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California › Investment Adviser › Venture Capital

Allen Matkins

Governor Seeks $7.9 Million To Implement Venture Capital Company Reporting Law That He Branded As "Problematic"

Allen Matkins on

Article 14, Section 12 of the California Constitution requires the Governor to submit a budget to the Legislature by January 10 of each year.  The Constitution further required that the budget be accompanied by a budget bill,...more

DarrowEverett LLP

Venture Capital Firms Face New Reporting Requirement With California Law

DarrowEverett LLP on

Over three and a half years since the death of George Floyd spurred some members of the venture capital community to enact promises to increase their investments in diverse entrepreneurs, California has enacted legislation in...more

BCLP

California Imposes Sweeping Demographic Reporting Rule on Private Fund Sponsors

BCLP on

On October 8, 2023, California Governor Gavin Newsom signed into law Senate Bill 54, Fair Investment Practices by Investment Advisers (“SB54”). The law requires that “covered entities” collect and report sensitive demographic...more

Dechert LLP

Sweeping Law for DEI Transparency of Private Funds with a California Nexus

Dechert LLP on

California continues its initiatives to increase workplace diversity through a new law that will require certain funds with a nexus to California to report DEI information about the founding teams of their portfolio...more

Allen Matkins

California Bill Would Require Some Advisers To Venture Capital Firms To File Diversity Reports, But What About Preemption?

Allen Matkins on

As I discussed in this post from earlier this month, SB 54 would have required institutional investors, securities and real estate brokers, and others to report diversity status of startup founding teams.  The bill has since...more

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