The FIPVCC creates a new venture capital demographic survey and reporting regime administered by DFPI. Under the FIPVCC, certain entities which invest in startup, early-stage or emerging growth companies and have a California nexus (Covered Entities) are required to register with DFPI, circulate a prescribed demographic survey to collect demographic data from founders of portfolio companies in which they invested in the prior year, and submit an annual report of anonymized data collected. The demographic information collected under the FIPVCC includes gender identity, race, ethnicity, disability status, LGBTQ+ status, California residency, and veteran status. The demographic data will be reported to the California Civil Rights Department, and each report will also be made publicly available on the DFPI’s website. READ MORE