Beginning in 2026, a new law — the Fair Investment Practices by Venture Capital Companies Act (“FIPVCC”) — imposes new obligations on a wide array of asset management firms that operate in California, make investments in California, and/or solicit investment and/or receive revenue from California — regardless of whether they are based in or outside of California. Specifically, the new statute requires covered entities to register with the California Department of Financial Protection and Innovation (“DFPI”) by March 1, 2026, and, beginning in April 2026, annually report aggregated demographic information about the founding teams of the companies in which they have invested during the preceding year. READ MORE