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VC panel urges California to use treasurer and pension tools to back emerging managers and diversify funding
Summary
Venture capitalists and emerging‑manager representatives told a Senate committee that state policy can unlock capital for diverse founders by directing deposits, leverage, guarantees and reporting toward smaller funds that back underrepresented entrepreneurs.
Venture investors and managers told the Committee on Minority Economic Development that systemic features of the venture ecosystem—network-driven deal sourcing and concentrated asset management—leave Latino and other diverse founders underfunded. Panelists urged state actions that target ‘emerging managers’ (early‑stage funds under defined size thresholds)…
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