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Last year, as we previously reported, California Governor Newsom signed into law Senate Bill 54, Fair Investment Practices by Investment Advisers, which requires “covered entities,” defined as a “venture capital company” that...more
As we previously reported, in October 2023, California enacted SB 54, a law requiring venture capital (VC) firms with a nexus to California to report data regarding the diversity of the founding members of the portfolio...more
On June 29, 2024, California Governor Gavin Newsom signed into law S.B. 164 (the “Diversity Reporting Law”), amending the previous version of the law that was adopted in 2023, S.B. 54. Please visit the following link for our...more
Given the importance of venture capital to California's economy, one might expect that state lawmakers would be keen to nurture the industry rather than enact laws that encourage venture capital companies to avoid the Golden...more
Last year, the California legislature enacted a bill, SB 54 (Skinner), that requires a "a venture capital" company to report annually to the Civil Rights Department on its funding determinations related to companies primarily...more