In a major win for Southern California's aerospace industry, the U.S. Space Force will establish its acquisitions and technology division in the Los Angeles area this summer.

The move, observers said, cements the region – home to SpaceX and Virgin Orbit – as a major force while raising the profile for a myriad of local startups, as the government looks to private industry to bolster the next generation of space travel.

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Adding a backyard home in Los Angeles is now nearly as easy as buying a barbecue.

Homeowners who for years have wanted to build a granny flat in their backyard, but dreaded the red tape, can now choose from 20 pre-designed homes that the city has already approved for use.

The shift, made official last week, will speed up a weeks-long process and bring more badly needed units to an overpriced market. It also has the potential to elevate the 14 startups and firms building the next generation of homes.

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The 46-year-old poet-turned-financer Taj Eldridge is raising $250 million to support Black and brown entrepreneurs and investors.

The fund will be split in two buckets, $125 million will go toward direct investments in clean tech, healthcare tech, media and fintech, as well as follow-on investments for companies that its affiliated fund managers make investments in. The rest of the funds will support fund managers raising at least $5 million that are majority-owned by Black or Brown individuals with an environmental social governance focus.

"What we like to say is we like to see funds that impact how you work, how you live and how you thrive," Eldridge told Minnie Ingersoll on the LA Venture podcast.

Eldridge, senior director of investments for the Los Angeles Cleantech Incubator, said the idea for the new fund began in 2019 before last summer's racial reckoning when he had a conversation with a "high net-worth individual" about reducing the racial wealth gap.

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