Orrick

Company

Last mentioned: Feb 18, 2026

Timeline

  1. Public Disclosure

    The state is expected to begin publishing aggregated, anonymized data from the reports.

  2. First Reporting Deadline

    Initial diversity reports must be submitted to the California Civil Rights Department.

  3. Data Collection Begins

    Firms must begin tracking diversity data for all investments made during the 2025 calendar year.

  4. SB 54 Signed

    Governor Gavin Newsom signs the Venture Capital Diversity Act into law.

Stories mentioning Orrick 1

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California Implements Landmark VC Diversity Reporting: What Firms Need to Know

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.

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