File diversity reports
without seeing individual responses
California's new FIP VCC law requires any VC fund that operates in, invests in, or has a LP in California to collect sensitive information from founders.
Good morning, Swell Ventures team.
Portfolio with reporting requirements for 2025
24 companies
Invites sent
19 invites
Upcoming actions
Non-Compliance Penalties
Up to $5,000 per day in fines
The statute still contains daily-penalty exposure, but DFPI has announced that implementation and enforcement are suspended pending rulemaking and final regulations.
Suspended
Pending rulemaking
DFPI says it will not require further registrations or reports by the April 1, 2026 deadline while rulemaking is pending.
60 days
Cure period after notice
The DFPI will notify non-filers and allow 60 days to submit without penalty.
5 years
Record retention requirement
All records related to each filing must be preserved for at least five years.
Private by Design
Better than encryption
Zero-knowledge compliance.
Built to meet regulatory requirements imposed by the FIPVCC law which prevent storing or collecting individual founder responses in a manner that is identifiable.
Features
Everything needed for compliant reporting
Aggregate-only survey engine
Collect required demographic counters while avoiding founder-level response storage.
Founder Invites
Easily add your portfolio by uploading your Schedule of Investments, then manage shared survey distribution in the same workflow.
Built-in privacy guardrails
Secure data handling defaults reduce re-identification risk. We do not store identifiable responses.
Guided reporting flow
Work from setup to survey to final report in one repeatable workflow each cycle.
Multiple Entity Support
Support multiple funds, entities, and reporting structures in one workspace.
Record Keeping Requirements
Maintain required records with easy exports for internal review and retention without having sensitive data stored on your systems.
Filing-ready outputs
Generate structured output your compliance and legal teams can review before filing.
Bulk Import
Add your full portfolio in minutes by uploading your SOI file or a spreadsheet.
Easy Opt-Outs
Founders have a one-click option to decline to provide demographicinformation.
Avoid sensitive information
Acts as a trusted third party so that founders do not need to provide sensitive information to your team. FIPVCC only provides reports in the aggregate form.
No Login for Founders
Founders do not need to login, minimizing PII storage.
API Access
Integrate with internal systems through API access available for funds with high volume or fund administrators.
How it works
Three steps to filing-ready output
Set up reporting context
Create the reporting year, add portfolio companies, and capture investment amount plus principal place of business.
Collect aggregate outcomes
Send survey invites and collect category-level counts without storing founder-level answer records.
Finalize annual submission
Export filing-ready output, review internally, and complete your annual compliance submission.
Pricing
Accessible pricing
Free
Free
For funds with simple workflows.
- Portfolio tracking
- Supports SPVs and Funds
- Team Access
- Invite Links
- Email invites (with limits)
- Report Generation
- Virtual Websites (per-fund domains for DPFI registration)
Enterprise
Contact Us
For high volume funds and fund administrators
- Advanced Intake Options
- API Integration
- Customizable branding
- Multi-entity support
- Email invites
- For Fund Administrators & Service Providers
Comparison
Alternative Solutions
| Metric | FIPVCC.com | Email Collection | Web Form (Google Form) |
|---|---|---|---|
Per-fund domains for DPFI registration | Included on Free plan | Not built in | Not built in |
Anonymization Compliance | Compliant by design | Not compliant | Hard to truly anonymize |
Compliance Review: Data Privacy | Aggregate-only view | Email security risk | Spreadsheet leak risk |
Data Storage Risk | No Data on your Systems | Data is stored on your computer + employees | Data stored in your systems |
Ease of Inviting Founders | Built-in invites | Manual outreach | Manual distribution |
Ease of Declining | Single click | Hard to find | 14+ fields to decline |
Single Link Sharing | Simple link sharing | Not straightforward | Simple link sharing |
Calculation of Diversity Stats | Automatic | Very difficult to do compliantly | Manual reconciliation |
Report Generation | One click | Manual PDF editing | Manual editing |
Setup Time | Minutes | Mass mail merge | 78+ form inputs |
Decline-to-State Handling | Built in for all 14 fields | 14 fields / founder | 14 fields / founder |
Use the Official Survey | Yes | Yes | No |
Solo Founder Companies | Automatic Data Shielding | Very difficult to do compliantly | Difficult to preserve privacy |
Portfolio-to-Filing Traceability | Linked by default | Fragmented | Separate systems |
Recordkeeping and Exports | Structured exports | Mailbox records | Spreadsheet cleanup |
Privacy for founders | No PII storage | Not compliant | Difficult to comply with Section 2 |
Avoid collecting sensitive demographic information from founders
Launch a repeatable workflow for portfolio tracking, survey collection, and annual report preparation in one shared workspace.