Gavin Newsomtoday announced an initiative to help rebuild Los Angeles after the recent fires.

That will include not only recruiting other community leaders, but also to raise money.

Just as California came together to fight the fires, well work together to rebuild.

Gavin Newsom, Magic Johnson, Casey Wasserman and Dodgers Chairman Mark Walter

L-R: Gavin Newsom, Magic Johnson, Casey Wasserman and Dodgers Chairman Mark WalterGetty Images/Courtesy/Getty

LA Rises will focus on providing access to capital and financial tools, leveraging innovation and fostering private-sector investment.

It will support the broader recovery efforts by:

This is a time for bold action.

Theres nothing Los Angeles cant achieve.

Palisades Fire

Its time for those with means to come forward and make a positive impact to build back better.

Mayor Karen Bass called LA Rises a vital component of a comprehensive effort to bring Angelenos home.