Last mentioned: Feb 18, 2026
Public Data Release
The CRD is expected to begin publishing aggregated, anonymized diversity data for the industry.
Public Disclosure
The state is expected to begin publishing aggregated, anonymized data from the reports.
First Reporting Deadline
Covered venture capital companies must submit their first annual report to the CRD.
First Reporting Deadline
Initial diversity reports must be submitted to the California Civil Rights Department.
Data Tracking Begins
Firms must begin tracking demographic data for all investments made during the 2025 calendar year.
Data Collection Begins
Firms must begin tracking diversity data for all investments made during the 2025 calendar year.
SB 54 Signed into Law
Governor Gavin Newsom signs the Venture Capital Diversity Act into law.
SB 54 Signed
Governor Gavin Newsom signs the Venture Capital Diversity Act into law.
California is rolling out SB 54, a first-of-its-kind law requiring venture capital firms to disclose diversity data for their portfolio company founders. With the first reporting deadline set for March 1, 2026, firms must now implement robust data collection processes to comply with the state's transparency mandate.
California is enforcing Senate Bill 54, a first-of-its-kind regulation requiring venture capital firms to disclose the diversity metrics of founding teams in their portfolios. With the first reporting deadline set for March 1, 2026, firms with a California nexus must navigate complex data collection and privacy requirements.