Rank List: States in Profile

Venture Capital Invested Per Deal in 2020 adjusted to 2025

Rank	State	FIPS Code	Adj. Value
1	West Virginia	54000	$31,746,129
2	Massachusetts	25000	$23,879,302
3	District of Columbia	11000	$23,127,990
4	California	06000	$22,725,662
5	North Carolina	37000	$19,737,317
6	Minnesota	27000	$16,157,344
7	Montana	30000	$14,212,975
8	Washington	53000	$14,177,318
9	Wyoming	56000	$13,331,132
10	North Dakota	38000	$13,280,828
11	Ohio	39000	$13,192,800
12	New York	36000	$12,996,402
13	Texas	48000	$12,946,422
14	Illinois	17000	$12,647,457
15	Connecticut	09000	$11,447,794
16	New Jersey	34000	$11,289,220
17	Utah	49000	$11,193,973
18	Pennsylvania	42000	$10,207,754
19	Arizona	04000	$9,773,391
20	Georgia	13000	$9,654,069
21	Kansas	20000	$9,529,853
22	Colorado	08000	$9,527,659
23	Maryland	24000	$8,400,359
24	Virginia	51000	$8,302,626
25	Tennessee	47000	$7,577,812
26	Oregon	41000	$7,421,362
27	New Hampshire	33000	$7,236,930
28	Florida	12000	$7,179,778
29	Nevada	32000	$6,911,509
30	Kentucky	21000	$6,904,209
31	Missouri	29000	$6,746,239
32	Michigan	26000	$6,141,502
33	Iowa	19000	$5,843,875
34	New Mexico	35000	$5,607,440
35	Delaware	10000	$5,536,001
36	Rhode Island	44000	$4,925,779
37	Alabama	01000	$4,665,522
38	Nebraska	31000	$4,480,183
39	Wisconsin	55000	$4,188,451
40	Idaho	16000	$3,815,049
41	Indiana	18000	$3,453,307
42	Maine	23000	$3,370,672
43	Arkansas	05000	$3,243,921
44	Oklahoma	40000	$3,012,939
45	Louisiana	22000	$2,992,079
46	South Carolina	45000	$2,682,084
47	Alaska	02000	$2,590,086
48	Vermont	50000	$2,487,132
49	Hawaii	15000	$2,459,014
50	South Dakota	46000	$1,270,024
51	Mississippi	28000	$369,703

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

This page was generated on 10/6/2026 7:26:10 AM