Natasha Dempsey Assesses New California Venture Capital Diversity Reporting Law

Foley & Lardner LLP senior counsel Natasha Dempsey shared insights on the California Fair Investment Practices by Venture Capital Companies Act in the Pitchbook article, “VCs are pushing back against California’s new startup diversity reporting rules.”

Dempsey said that while the demographic data collection process for venture capital firms is fairly straightforward, it is also a time-consuming activity on top of what is already a deadline-filled landscape.

“There is a risk of folks not giving it the credence it deserves, and it could take people by surprise when they get hit with some penalties,” she added.

For more on the reporting requirements and their impact to California investment firms, read Dempsey’s and partner Louis Lehot’s Foley article series, “California Rolls Out New Venture Capital Diversity Reporting Requirements.”

• Part I: Who Is Covered and When Must You Register/Report?
• Part II: Key Compliance Requirements
• Part III: Practical Compliance – What You Should Be Doing Now