California Passes Bill That Requires VC Firms To Report On Their Number Of Investments In Diverse Founders

SB 54 is set to be enforced on March 1, 2025, but ahead of that date, the bill’s wording will be “cleaned up” due to “problematic provisions and unrealistic timelines,” per Gov. Newsom. Additionally, he emphasized that the update is to “ensure this important policy to improve the diversity of venture capital investments can be implemented properly.”