California Gov. Gavin Newsom signed Oct. 8 a bill that requires venture capitalists to report, annually, the diversity of the founding members of businesses they are backing.
Such reporting would begin by March of 2025.
New California Law Asks Venture Capital Companies to Report ‘Diversity’ of Their Investments, First in US
The new law will ask such firms for information including race, gender, disability, or veteran status of the founders of the companies they invest in.
Traffic crosses the San Francisco-Oakland Bay Bridge in San Francisco on June 14, 2021. Justin Sullivan/Getty Images
Sophie Li
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Sophie Li is a Southern California-based reporter covering local daily news, state policies, and breaking news for The Epoch Times. Besides writing, she is also passionate about reading, photography, and tennis.
