Rank List: States in Profile

Venture Capital Deals Made in 2025

Rank	State	FIPS Code	Deals
1	California	06000	5,040
2	New York	36000	2,080
3	Texas	48000	891
4	Massachusetts	25000	872
5	Delaware	10000	756
6	Florida	12000	668
7	Washington	53000	436
8	Colorado	08000	386
9	Illinois	17000	333
10	Virginia	51000	312
11	Pennsylvania	42000	288
12	North Carolina	37000	256
13	New Jersey	34000	237
14	Georgia	13000	214
15	Ohio	39000	206
16	Utah	49000	199
17	Tennessee	47000	197
18	Michigan	26000	177
19	Maryland	24000	174
20	Arizona	04000	170
21	Minnesota	27000	165
22	Oregon	41000	149
23	Connecticut	09000	148
24	Indiana	18000	113
25	Nevada	32000	112
26	Wisconsin	55000	103
27	Missouri	29000	89
28	District of Columbia	11000	84
29	South Carolina	45000	79
30	Kentucky	21000	78
31	Nebraska	31000	66
32	Wyoming	56000	61
33	Alabama	01000	60
34	Oklahoma	40000	44
35	Louisiana	22000	40
36	Idaho	16000	36
36	New Hampshire	33000	36
38	Maine	23000	35
39	Iowa	19000	34
40	Kansas	20000	33
40	New Mexico	35000	33
42	Montana	30000	31
43	Arkansas	05000	29
44	Vermont	50000	20
45	Rhode Island	44000	18
46	North Dakota	38000	17
47	Hawaii	15000	13
48	Mississippi	28000	12
49	Alaska	02000	7
50	South Dakota	46000	6
51	West Virginia	54000	5

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

This page was generated on 10/9/2026 7:13:42 AM