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

A step has been taken toward more transparency in the VC space. On Oct. 8, 2023, California Governor Gavin Newsom signed Senate Bill 54, a law that mandates VC firms to release annual reports regarding the number of diverse founders they’re investing in — making it the inaugural law focused on increasing diversity in VC funding in the U.S. — TechCrunch reports.

Ngozi Nwanji

Oct 10, 2023