On October 8, 2023, in an effort to improve the diversity of venture capital investment in the state, California Governor Gavin Newsom signed Senate Bill No. 54 (SB 54) into law. SB 54 requires venture capital companies (VCC) to collect and report information about their funding determinations, including demographic information for the founding teams of each VCC’s portfolio companies, to the state’s Civil Rights Department (CRD). READ MORE
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