When it comes to capital in space and defense technology, the government and VC investors have remained king. But Leonid Capital Partners is doing something different: pivoting the industry to private credit. With the firm, companies—including clients like ABL Space Systems, Canopy Aerospace, Phase Four and more— can borrow against their government contracts. Co-Founder & President James Parker joins Morgan Brennan to discuss what’s enticing him now and the investing landscape writ large.