Rank List: States in Profile

Venture Capital Invested in 2025 adjusted to 2025

Rank	State	FIPS Code	Adj. Value
1	California	06000	$194,466,830,011
2	New York	36000	$29,099,850,642
3	Massachusetts	25000	$16,963,904,968
4	Texas	48000	$12,201,797,122
5	Washington	53000	$7,576,839,541
6	Colorado	08000	$7,059,991,054
7	Florida	12000	$4,745,569,633
8	Arizona	04000	$3,646,174,967
9	Delaware	10000	$3,331,679,696
10	Maryland	24000	$3,032,614,213
11	Pennsylvania	42000	$2,943,085,699
12	Virginia	51000	$2,800,369,057
13	Illinois	17000	$2,638,269,000
14	North Carolina	37000	$2,479,964,493
15	New Jersey	34000	$2,321,982,206
16	Wyoming	56000	$2,150,211,394
17	Utah	49000	$1,926,177,895
18	Georgia	13000	$1,829,703,423
19	Connecticut	09000	$1,436,264,616
20	Michigan	26000	$1,400,082,344
21	Oregon	41000	$1,304,338,745
22	Ohio	39000	$1,268,893,834
23	Tennessee	47000	$1,261,903,212
24	Minnesota	27000	$1,100,657,103
25	District of Columbia	11000	$1,018,270,227
26	Missouri	29000	$923,296,980
27	Vermont	50000	$832,655,675
28	Nevada	32000	$787,389,598
29	North Dakota	38000	$692,136,030
30	Alabama	01000	$664,526,663
31	Nebraska	31000	$570,894,832
32	Indiana	18000	$408,427,410
33	Kansas	20000	$395,395,484
34	Montana	30000	$392,483,249
35	Wisconsin	55000	$357,141,675
36	South Carolina	45000	$311,047,062
37	New Hampshire	33000	$295,908,997
38	Oklahoma	40000	$270,280,982
39	New Mexico	35000	$260,997,756
40	Rhode Island	44000	$221,116,234
41	Idaho	16000	$215,309,955
42	Arkansas	05000	$184,146,262
43	Kentucky	21000	$135,506,926
44	Iowa	19000	$129,708,533
45	Maine	23000	$114,808,730
46	Hawaii	15000	$111,703,815
47	Louisiana	22000	$81,455,793
48	South Dakota	46000	$30,217,566
49	Alaska	02000	$8,690,214
50	Mississippi	28000	$5,755,946
51	West Virginia	54000	$1,527,483

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

This page was generated on 10/9/2026 7:15:39 AM