Goodwin Procter put together an informative summary of the California’s Fair Investment Practices by Venture Capital Companies. The compliance date is March 1, 2026 for venture capital fund sponsors.
Unlike some of California’s other diversity initiatives, this law does not mandate operational changes. It requires disclosure on demographics of the founders of portfolio companies. The program is run by California’s Department of Financial Protection and Innovation. You can see the proposed demographic survey: https://dfpi.ca.gov/wp-content/uploads/2026/01/VCC-Demographic-Data-Survey.pdf.
Although the registration compliance deadline is March 1, the registration portal is not active yet. The demographics reporting is scheduled to be due on April 1, 2026
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