Los Angeles-based venture firm Embedded Ventures launched its debut fund with a target of $100M.  The firm intends to invest in commercial, national security, and space startups. Embedded already raised an undisclosed sum and held a first close of the fund. The firm aims to hold a final close by the end of Q2 2023.  The firm is led by general partners Jenna Bryant and Jordan Noone.  Noone founded the 3D rocket printing startup Relativity Space prior to joining Embedded.  The firm has invested in over six startups to date, including Akash Systems and Slingshot Aerospace, and launched the fund to increase its pace of investments.   It has six more potential investments undergoing the due diligence process.   Embedded hired former Virgin Orbit national security executive Mandy Vaughn as an operating partner to lead the government business development.  The firm signed a cooperative agreement with the U.S. Space Force in 2021.