In early October, California Governor Gavin Newsom signed the Investing in Equity Act, which is designed to make venture-capital funds report annually on the race, ethnicity, gender identity and disability status of the founders of their portfolio companies.
Asset management partner Catherine Skulan told The Wall Street Journal that “if you read [the law] closely, you’re left scratching your head a little.”
“The devil is very much in the details here,” Catherine said. “If you trace the definitions throughout the bill you will see it has a much broader scope than, potentially, it was intended to cover.”
Attorneys
Stay Up To Date with Ropes & Gray
Ropes & Gray attorneys provide timely analysis on legal developments, court decisions and changes in legislation and regulations.
Stay in the loop with all things Ropes & Gray, and find out more about our people, culture, initiatives and everything that’s happening.
We regularly notify our clients and contacts of significant legal developments, news, webinars and teleconferences that affect their industries.