Rank List: States in Profile

Venture Capital Invested in 2020 adjusted to 2025

Rank	State	FIPS Code	Adj. Value
1	California	06000	$104,606,221,451
2	New York	36000	$22,327,817,818
3	Massachusetts	25000	$21,849,561,404
4	Texas	48000	$11,211,601,272
5	Washington	53000	$5,911,941,777
6	North Carolina	37000	$5,033,015,873
7	Illinois	17000	$4,641,616,537
8	Colorado	08000	$4,182,642,338
9	Florida	12000	$3,733,484,331
10	Pennsylvania	42000	$3,654,376,076
11	Ohio	39000	$2,427,475,194
12	New Jersey	34000	$2,370,736,162
13	Utah	49000	$2,350,734,402
14	Georgia	13000	$2,336,284,700
15	Minnesota	27000	$2,245,870,860
16	District of Columbia	11000	$1,850,239,221
17	Delaware	10000	$1,799,200,185
18	Virginia	51000	$1,702,038,432
19	Connecticut	09000	$1,682,825,742
20	Maryland	24000	$1,604,468,536
21	Arizona	04000	$1,534,422,369
22	Michigan	26000	$1,203,734,321
23	Oregon	41000	$1,157,732,489
24	Tennessee	47000	$1,068,471,520
25	Missouri	29000	$782,563,743
26	Nevada	32000	$670,416,344
27	Montana	30000	$483,241,140
28	Indiana	18000	$473,103,063
29	Wyoming	56000	$466,589,625
30	Kentucky	21000	$462,581,994
31	Wisconsin	55000	$443,975,798
32	Kansas	20000	$381,194,102
33	New Hampshire	33000	$325,661,848
34	Iowa	19000	$257,130,488
35	Alabama	01000	$195,951,915
36	New Mexico	35000	$179,438,083
37	South Carolina	45000	$160,925,049
38	Idaho	16000	$152,601,944
39	Nebraska	31000	$134,405,481
40	North Dakota	38000	$132,808,282
41	Rhode Island	44000	$128,070,258
42	Maine	23000	$121,344,193
43	Oklahoma	40000	$120,517,550
44	Arkansas	05000	$100,561,540
45	West Virginia	54000	$95,238,387
46	Vermont	50000	$64,665,432
47	Louisiana	22000	$62,833,658
48	Hawaii	15000	$29,508,166
49	Alaska	02000	$10,360,342
50	South Dakota	46000	$7,620,147
51	Mississippi	28000	$3,327,331

Data Source: PricewaterhouseCoopers/National Venture Capital Association MoneyTree Report (tm) based on data from Thomson Financial

This page was generated on 10/8/2026 10:29:34 AM