A State of California bill will require all venture capital firms in California to publish diversity data on their investments every year.
Is this the correct approach to improving diversity in fund allocation and should the UK consider a similar legal requirement to California’s?
Signed off on the 8 October, Senate Bill 54 will be applicable to those with operations, portfolio investments or funding from citizens in the state from 1 March 2025.
Gavin Newsom, California Governor, said: “This bill resonates deeply with my commitment to advance equity and provide for greater economic empowerment of historically underrepresented communities.”
UK female funding in 2023
A report published this week by Beauhurst and Digital Catapult revealed that AI and machine learning businesses with all-female founding teams received £136m in equity investment over the last ten years, compared to £9.58bn for all-male founded AI companies....