State & Local Regulatory
California DFPI Suspends VC Demographic Reporting
March 20, 2026
California's Department of Financial Protection and Innovation (DFPI) has suspended the implementation and enforcement of the Fair Investment Practices by Venture Capital Companies Law (FIPVCC), which mandated certain venture capital firms with a nexus to California to report demographic data of portfolio company founders by April 1, 2026. This suspension delays the initial filing deadline and opens a period for formal rulemaking and stakeholder input on the final regulations.
- Why this matters: Venture capital firms and related service providers with California operations are temporarily relieved from the April 1 demographic data reporting requirement, affecting compliance planning and reporting workflows.
- The suspension provides an opportunity for affected entities to engage in the rulemaking process and influence final regulatory requirements.
- Procurement professionals and contractors supporting VC firms should adjust timelines and resource allocation for compliance-related services accordingly.
- Organizations should monitor DFPI communications for updates on final regulations to ensure timely compliance once rules are finalized.
Agencies
California Department of Financial Protection and Innovation