Rank List: States in Profile

Venture Capital Invested Per Deal in 2021 adjusted to 2025

Rank	State	FIPS Code	Adj. Value
1	Massachusetts	25000	$36,348,104
2	California	06000	$30,216,549
3	District of Columbia	11000	$26,509,269
4	West Virginia	54000	$22,460,429
5	New York	36000	$22,228,786
6	Illinois	17000	$21,732,242
7	New Jersey	34000	$21,709,371
8	Pennsylvania	42000	$20,722,015
9	Vermont	50000	$19,950,749
10	Utah	49000	$17,667,398
11	Connecticut	09000	$17,102,659
12	Oregon	41000	$16,969,592
13	Georgia	13000	$16,851,953
14	Colorado	08000	$16,245,891
15	Ohio	39000	$16,222,807
16	Washington	53000	$16,168,898
17	Arizona	04000	$15,771,765
18	Nebraska	31000	$15,711,815
19	Texas	48000	$15,306,648
20	Nevada	32000	$14,689,654
21	North Carolina	37000	$13,623,319
22	Idaho	16000	$12,527,568
23	Florida	12000	$12,408,917
24	Missouri	29000	$11,039,161
25	Maryland	24000	$9,786,872
26	Tennessee	47000	$9,785,882
27	Minnesota	27000	$9,757,531
28	Delaware	10000	$9,272,048
29	Virginia	51000	$9,060,236
30	Wisconsin	55000	$7,879,821
31	North Dakota	38000	$7,641,278
32	South Carolina	45000	$7,413,494
33	Oklahoma	40000	$6,629,353
34	Arkansas	05000	$6,136,626
35	Maine	23000	$5,936,066
36	Iowa	19000	$5,836,718
37	Kansas	20000	$5,793,197
38	Michigan	26000	$5,742,769
39	Mississippi	28000	$5,598,125
40	New Hampshire	33000	$5,406,991
41	Hawaii	15000	$4,932,088
42	New Mexico	35000	$4,717,690
43	Alabama	01000	$4,536,434
44	Indiana	18000	$4,459,966
45	Montana	30000	$4,416,371
46	Kentucky	21000	$4,394,266
47	Rhode Island	44000	$4,353,348
48	Louisiana	22000	$3,990,255
49	Wyoming	56000	$3,877,462
50	South Dakota	46000	$2,526,974
51	Alaska	02000	$1,522,844

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

This page was generated on 10/9/2026 7:13:41 AM