Rank List: States in Profile

Venture Capital Invested in 2021 adjusted to 2025

Rank	State	FIPS Code	Adj. Value
1	California	06000	$192,298,118,553
2	New York	36000	$59,750,976,813
3	Massachusetts	25000	$42,709,022,329
4	Texas	48000	$17,725,098,810
5	Illinois	17000	$10,800,924,448
6	Florida	12000	$10,646,850,958
7	Washington	53000	$9,264,778,338
8	Colorado	08000	$9,065,206,989
9	Pennsylvania	42000	$8,102,307,687
10	New Jersey	34000	$6,577,939,458
11	Georgia	13000	$5,426,328,770
12	Delaware	10000	$5,377,788,031
13	North Carolina	37000	$4,972,511,589
14	Utah	49000	$4,734,862,688
15	Ohio	39000	$3,585,240,337
16	Oregon	41000	$3,546,644,716
17	Connecticut	09000	$3,403,429,190
18	Arizona	04000	$3,217,440,113
19	District of Columbia	11000	$3,101,584,517
20	Virginia	51000	$2,817,733,540
21	Maryland	24000	$2,368,423,097
22	Nevada	32000	$2,100,620,514
23	Minnesota	27000	$1,961,263,631
24	Tennessee	47000	$1,663,599,949
25	Missouri	29000	$1,457,169,227
26	Michigan	26000	$1,372,521,900
27	Nebraska	31000	$974,132,561
28	Wisconsin	55000	$906,179,386
29	Indiana	18000	$709,134,638
30	Vermont	50000	$678,325,456
31	South Carolina	45000	$570,839,007
32	Idaho	16000	$501,102,730
33	Iowa	19000	$338,529,629
34	West Virginia	54000	$314,446,006
35	Alabama	01000	$303,941,073
36	New Hampshire	33000	$291,977,529
37	Kentucky	21000	$281,233,034
38	Kansas	20000	$278,073,454
39	Oklahoma	40000	$258,544,769
40	Arkansas	05000	$233,191,785
41	Wyoming	56000	$213,260,412
42	New Mexico	35000	$202,860,657
43	Maine	23000	$201,826,237
44	Rhode Island	44000	$161,073,880
45	Montana	30000	$141,323,868
46	Louisiana	22000	$131,678,416
47	Hawaii	15000	$118,370,106
48	North Dakota	38000	$84,054,055
49	Mississippi	28000	$50,383,123
50	South Dakota	46000	$20,215,789
51	Alaska	02000	$12,182,751

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

This page was generated on 10/9/2026 7:12:51 AM