News & Analysis as of

Diversity Venture Capital Diversity and Inclusion Standards (D&I)

Cooley LLP

11th Circuit Fearless Fund Ruling Raises Questions About Future of Race-Conscious Corporate DEI and Philanthropic Initiatives

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On June 3, 2024, the US Court of Appeals for the 11th Circuit ordered entry of a preliminary injunction blocking venture capital firm Fearless Fund from administering a grant program through its philanthropic foundation for...more

Poyner Spruill LLP

Eleventh Circuit Decision Generates Further Concern in Diversity Initiatives

Poyner Spruill LLP on

On Monday, June 3, 2024, the U.S. Court of Appeals for the Eleventh Circuit held that a contest providing venture-capital funding to only Black women was substantially likely to violate section 1981 of the Civil Rights Act of...more

WilmerHale

Eleventh Circuit Temporarily Blocks Fearless Fund Grant Program For Black Women-Owned Businesses

WilmerHale on

On June 3, 2024, the Eleventh Circuit authorized a preliminary injunction in American Alliance for Equal Rights v. Fearless Fund Management, LLC et al., ruling that a grant contest that awards funding and mentorship...more

Ogletree, Deakins, Nash, Smoak & Stewart,...

DEI Under Scrutiny, Part X: Eleventh Circuit Blocks Venture Capital Fund’s Grant Contest for Black Women-Owned Businesses

The U.S. Court of Appeals for the Eleventh Circuit blocked a contest by a venture capital fund that provided grants and other benefits to black women-owned businesses, finding the contest is likely to unlawfully discriminate...more

Davis Wright Tremaine LLP

Project W: Q&A with Kange Kaneene

Kange Kaneene is the Vice President of SAP.iO North and Latin America and Caribbean, SAP's global network of startup accelerators. She is an angel investor, a mentor for entrepreneurs, a scout for a VC syndicate, and the...more

Goodwin

Horizon Scan for Private Investment Funds: Key Recent and Expected funds, Regulatory and Tax Developments to look out for -...

Goodwin on

Welcome to the first edition of our Horizon Scan for 2024: key recent and expected funds, regulatory and tax developments to look out for. As before, we focus on the most important developments and changes that we expect to...more

Keating Muething & Klekamp PLL

New Diversity Reporting Law for Venture Capital Companies with a Nexus to California

On October 8, 2023, California Governor Gavin Newsom signed Senate Bill 54 (“SB 54”) into law, which attempts to increase diversity, equity, and inclusion amongst venture capital (“VC”) investments. The law is the first...more

DarrowEverett LLP

Venture Capital Firms Face New Reporting Requirement With California Law

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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

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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

Goodwin

New California Law to Require Venture Capital Firms to Disclose Founder Diversity Information

Goodwin on

On October 8, 2023, California Governor Gavin Newsom signed into law Senate Bill 54 (“SB 54”), which will apply to a majority of U.S. venture capital investment firms, even if they are not based in California. SB 54 aims to...more

Allen Matkins

Nonsensical Bill Requiring Founding Team Diversity Reports Advances

Allen Matkins on

In April, I reported on SB 54 (Skinner), a bill that would have required institutional Investors, securities and real estate brokers, and others to report on the diversity status of "founding teams".  At the time, I...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

WilmerHale

In Case You Missed It: Launch Links - June 2021 #2

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Some interesting links we found across the web this week: No, NFTs Aren’t Copyrights - Non-fungible tokens (NFTs) seem like a viable way for artists to sell art online. But to what extent does this new crypto asset...more

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