Broad jurisdictional reach: The Fair Investment Practices by Venture Capital Companies Law captures any venture capital firm with a California "nexus," including those headquartered elsewhere or even outside the U.S., if they invest in California companies or have even a single California-based limited partner. Imminent compliance deadlines: Covered entities must register with the DFPI by March 1, 2026 and submit their first demographic report by April 1, 2026, covering all 2025 investments.