Rank List: States in Profile

Venture Capital Invested in 2022 adjusted to 2025

Rank	State	FIPS Code	Adj. Value
1	California	06000	$103,264,593,820
2	New York	36000	$31,930,654,110
3	Massachusetts	25000	$23,227,034,174
4	Texas	48000	$17,104,411,191
5	Florida	12000	$11,882,996,721
6	Washington	53000	$8,786,348,757
7	Colorado	08000	$7,004,005,094
8	Illinois	17000	$5,576,596,982
9	North Carolina	37000	$5,302,447,547
10	Delaware	10000	$4,288,286,790
11	Pennsylvania	42000	$3,212,661,412
12	Virginia	51000	$3,083,084,363
13	Georgia	13000	$2,976,315,501
14	Utah	49000	$2,944,259,782
15	Ohio	39000	$2,912,279,291
16	Minnesota	27000	$2,477,514,177
17	Maryland	24000	$2,265,800,606
18	New Jersey	34000	$2,195,030,576
19	Arizona	04000	$1,786,452,619
20	District of Columbia	11000	$1,677,755,424
21	Nevada	32000	$1,676,404,252
22	Connecticut	09000	$1,489,094,568
23	Oregon	41000	$1,439,055,986
24	Michigan	26000	$1,266,279,524
25	Tennessee	47000	$1,204,994,787
26	Kansas	20000	$868,797,425
27	Indiana	18000	$731,075,322
28	Missouri	29000	$702,126,050
29	Wyoming	56000	$664,899,480
30	Wisconsin	55000	$652,893,604
31	New Hampshire	33000	$561,892,388
32	Vermont	50000	$555,379,135
33	Nebraska	31000	$538,472,954
34	West Virginia	54000	$506,453,025
35	Montana	30000	$387,143,254
36	Idaho	16000	$381,764,622
37	Alabama	01000	$357,497,075
38	Iowa	19000	$298,723,315
39	South Carolina	45000	$289,978,964
40	Rhode Island	44000	$273,222,648
41	Arkansas	05000	$255,390,646
42	Oklahoma	40000	$231,660,531
43	New Mexico	35000	$218,652,653
44	Louisiana	22000	$188,174,380
45	Kentucky	21000	$101,280,293
46	Maine	23000	$88,278,632
47	Hawaii	15000	$76,769,150
48	Mississippi	28000	$76,710,231
49	North Dakota	38000	$67,896,965
50	Alaska	02000	$17,198,739
51	South Dakota	46000	$7,053,382

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

This page was generated on 10/9/2026 6:42:47 AM