Last mentioned: Mar 3, 2026
First Annual Report Due
Submission of the first comprehensive demographic report covering the 2025 investment cycle to the DFPI.
First Reporting Deadline
Submission of the first annual report detailing 2025 founder demographic data.
DFPI Registration Deadline
Covered entities must register through the DFPI VCC Registration Portal with designated contact information.
Registration Deadline
Mandatory deadline for covered entities to register identifying information with the DFPI.
DFPI Portal Launch
Expected opening of the VCC Registration Portal for covered entities.
Data Collection Period Begins
Firms must begin tracking demographic data for all investments made throughout the 2025 calendar year.
Data Collection Period Begins
Firms must begin tracking demographic data for all investments made throughout the 2025 calendar year.
California is implementing the Fair Investment Practices by Venture Capital Companies Law (FIPVCC), mandating that VC firms with a state nexus report founder demographic data. With registration due by March 1, 2026, and the first annual report by April 1, 2026, firms must urgently audit 2025 investment data.
California's Fair Investment Practices by Venture Capital Companies Law (FIPVCC) introduces mandatory demographic reporting for venture firms with a state nexus. Starting March 2026, covered entities must register and disclose founder-level diversity data, signaling a major shift in how the investment workforce is monitored.