Rank List: States in Profile

Venture Capital Invested in 2018 adjusted to 2025

Rank	State	FIPS Code	Adj. Value
1	California	06000	$81,440,808,297
2	New York	36000	$20,367,944,547
3	District of Columbia	11000	$18,870,592,097
4	Massachusetts	25000	$17,491,497,406
5	Texas	48000	$7,123,878,995
6	Washington	53000	$6,674,367,081
7	Florida	12000	$4,872,816,311
8	North Carolina	37000	$3,701,328,447
9	Arizona	04000	$3,116,129,970
10	Illinois	17000	$2,727,607,346
11	Pennsylvania	42000	$2,665,804,022
12	Colorado	08000	$2,574,893,159
13	Utah	49000	$2,419,140,802
14	Maryland	24000	$1,953,509,751
15	Ohio	39000	$1,562,852,147
16	New Jersey	34000	$1,519,581,207
17	Minnesota	27000	$1,426,762,888
18	Georgia	13000	$1,290,566,857
19	Virginia	51000	$1,249,188,735
20	Missouri	29000	$915,697,318
21	Wisconsin	55000	$851,126,752
22	Connecticut	09000	$782,359,875
23	Oregon	41000	$741,689,904
24	Delaware	10000	$658,856,042
25	Michigan	26000	$629,028,161
26	Tennessee	47000	$601,776,646
27	Nevada	32000	$442,260,084
28	Indiana	18000	$427,224,437
29	Kansas	20000	$339,959,633
30	Nebraska	31000	$267,604,114
31	Montana	30000	$231,322,076
32	Idaho	16000	$224,780,294
33	Kentucky	21000	$223,205,745
34	South Carolina	45000	$222,365,919
35	New Hampshire	33000	$174,736,267
36	Iowa	19000	$129,050,975
37	Oklahoma	40000	$126,121,071
38	New Mexico	35000	$97,417,953
39	Alabama	01000	$94,727,622
40	South Dakota	46000	$82,031,636
41	Arkansas	05000	$80,985,068
42	Rhode Island	44000	$75,019,903
43	Wyoming	56000	$58,369,512
44	North Dakota	38000	$51,442,166
45	Vermont	50000	$50,178,321
46	Maine	23000	$40,561,441
47	Louisiana	22000	$32,007,763
48	Mississippi	28000	$27,141,315
49	Hawaii	15000	$20,992,009
50	West Virginia	54000	$18,641,762
51	Alaska	02000	$10,584,598

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

This page was generated on 10/9/2026 6:42:13 AM