Sunstone Management Invests in Boom Supersonic Series B Raise
January 4, 2019
New Round of Funding Brings Accessible Supersonic Travel Closer to
Market
LONG BEACH, Calif.–(BUSINESS WIRE)–Sunstone Venture Capital Fund has announced its investment in the
recently completed $100 million Series B raise by Boom Supersonic. The
Denver based aerospace startup is seeking to make supersonic air travel
dramatically more accessible worldwide. Sunstone, a diversified capital
management and investment firm based in Long Beach, Calif., was joined
by Y Combinator Continuity and other investors in this funding effort.
Boom Supersonic is developing an aircraft that will render supersonic
flight an efficient and mainstream option in passenger travel. Boom’s
planned airliners would feature 55 seats with seat-mile costs similar to
currently available subsonic business class. The planes could shuttle
passengers between London and New York City in just longer than three
hours, flying at more than double the speed of sound.
“This new funding allows us to advance work on Overture, the
world’s first economically viable supersonic airliner,” said Blake
Scholl, chief executive officer and founder of Boom. “At Boom, our
vision is to remove the barriers to experiencing the planet. Today, the
time and cost of long-distance travel prevent us from connecting with
far-off people and places. Overture fares will be similar to
today’s business class—widening horizons for tens of millions of
travelers. Ultimately, our goal is to make high-speed flight affordable
to all.”
The company previously raised funds from seed investors and early
strategic partners, and already boasts 30 orders from Virgin Atlantic
Airways and Japan Airlines. The successful Series B raise will allow
Boom Supersonic to continue prototype construction and testing so that
it can fulfill its mission to deliver affordable, high speed
transportation to commercial travelers.
“Boom Supersonic is leading the way in aerospace technology, promising
to fulfill the high existing demand for increasingly faster travel at
prices that are accessible to the consumer,” said John Shen, founding
partner of Sunstone Management. “We’re excited to be a part of this
Series B funding, and know that it will continue to yield returns to
partners and investors in our Venture Capital Fund.”
About Sunstone Management
Sunstone Management, with its subsidiary Sunstone Venture Capital Fund,
is a diversified private capital management and investment firm offering
comprehensive wealth management solutions to high net worth clients
worldwide, in particular U.S. new-immigrant families. Focusing on
investments in U.S. based small businesses and lower middle markets, its
offerings are carefully structured to meet targeted investor goals
ranging from short term senior debt products to longer term, equity,
growth capital, and venture capital investment strategies.
Contacts
Dana Doran
ddoran@rasky.com
202-207-3650