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 transparency measure of its kind in the United States and will have a wide reaching impact on VC companies nationwide. Thus, it is important to know which VC companies it affects and what the bill’s future holds. READ MORE