LONG BEACH, Calif.--(BUSINESS WIRE)--Building on its position as a leader in supporting local economic development through innovative public-private partnerships, Sunstone Management today announced that Eric Romero, a long-time community member with a proven track record helping small and underrepresented businesses gain access to capital and technical assistance, has been named Director of Economic Development.
Mr. Romero previously served as the Business Development Officer for the City of Long Beach Economic Development Department, where he oversaw the implementation of economic recovery programs totaling more than $25 million, administered the City’s $3 million Revolving Loan Fund, coordinated a $10 million annual Business Improvement District Program, managed several strategic partnerships, and project managed the development of the City’s 10-year Blueprint for Economic Development.
“Eric brings not only a wealth of knowledge to this position, but also an invaluable perspective on the importance of public-private partnerships in the venture capital industry” added John Keisler, CEO of Sunstone. “This appointment highlights our commitment to be a new kind of investment company, with an important focus of partnering with cities and counties to establish new avenues for economic opportunity."
“Sunstone Management’s unique approach to collaborative economic development is leading the way for a new approach to venture capital investment,” said Romero. “I’m excited for the opportunity to establish creative partnerships with cities, counties, and universities, continue serving local innovators, and advancing economic equity amongst early-stage startups in this new role.”
Mr. Romero earned a master’s degree in Urban and Regional Planning from UCLA’s Luskin School of Public Affairs and a bachelor’s degree in Sociology from CSULB. He also recently received Accredited California Economic Developer status from the California Association for Local Economic Development, California’s premier economic development association.
Sunstone Management has been consistently recognized as one of America’s Fastest Growing Companies according to The Financial Times, and recently welcomed its fourth cohort of company founders through its Long Beach Accelerator (LBA), which is a partnership between Sunstone, California State University Long Beach’s Institute for Innovation and Entrepreneurship, and the City of Long Beach, CA.
About Sunstone Management
Sunstone Management, with the Sunstone Venture Capital Fund, is a diversified private capital management and investment firm offering comprehensive wealth management solutions to high-net-worth clients worldwide. Sunstone proactively forges both public-private partnerships with government agencies and industry-academic partnerships with nonprofit educational organizations to promote economic development, championing growth in the local innovative ecosystem. Aside from broad engagement in financial services, Sunstone also excels in leading commercial development projects in emerging sectors to support community development and economic recovery under COVID-19.