But SBA funding ran out on Sept. 30 as lawmakers clashed over proposed reforms. A bipartisan House bill that would have reauthorized SBA funding for a year failed in the Senate amid opposition by Ernst, who is leaving Congress in a year. This month he visited several L.A.-area defense companies, including Torrance startup Castelion, a manufacture of hypersonic missiles that received SBIR funding. Hollywood Inc. Palmer Luckey’s Anduril leads second-quarter surge for venture capital in greater L.A. Venture capital investments in the L.A. region totaled $5.8 billion in the second quarter, more than double the amount from a year ago, according to a report from research firm CB Insights. He now assumes he will have to look for other sources of money to grow the company, which already attracted undisclosed venture capital.

Source: Los Angeles Times January 19, 2026 15:30 UTC