Rank List: States in Profile

Venture Capital Invested Per Deal in 2022 adjusted to 2025

Rank	State	FIPS Code	Adj. Value
1	West Virginia	54000	$50,645,303
2	Massachusetts	25000	$22,485,028
3	California	06000	$18,206,029
4	Vermont	50000	$17,355,598
5	Kansas	20000	$16,707,643
6	North Carolina	37000	$16,570,149
7	Washington	53000	$15,634,073
8	District of Columbia	11000	$15,534,772
9	Texas	48000	$15,381,665
10	Colorado	08000	$14,352,469
11	Florida	12000	$13,737,568
12	New York	36000	$13,178,149
13	Utah	49000	$13,027,698
14	Minnesota	27000	$12,971,278
15	Ohio	39000	$12,445,638
16	Illinois	17000	$12,229,379
17	Nebraska	31000	$11,456,871
18	Virginia	51000	$10,932,923
19	Nevada	32000	$10,412,449
20	Wyoming	56000	$10,074,235
21	Maryland	24000	$9,937,722
22	Georgia	13000	$9,694,839
23	New Hampshire	33000	$9,687,800
24	Montana	30000	$9,678,581
25	Connecticut	09000	$9,191,942
26	Arizona	04000	$8,932,263
27	Idaho	16000	$8,483,658
28	New Jersey	34000	$8,129,743
29	Oregon	41000	$7,906,901
30	Pennsylvania	42000	$7,559,203
31	New Mexico	35000	$7,288,422
32	Rhode Island	44000	$7,005,709
33	Arkansas	05000	$6,902,450
34	Tennessee	47000	$6,846,561
35	North Dakota	38000	$6,789,697
36	Alabama	01000	$6,745,228
37	Iowa	19000	$6,638,296
38	Michigan	26000	$6,493,741
39	Missouri	29000	$6,441,523
40	Mississippi	28000	$6,392,519
41	Delaware	10000	$6,353,017
42	Wisconsin	55000	$5,777,820
43	Louisiana	22000	$4,951,957
44	Oklahoma	40000	$4,928,947
45	Indiana	18000	$3,909,494
46	South Carolina	45000	$3,866,386
47	Hawaii	15000	$3,655,674
48	Maine	23000	$3,531,145
49	Kentucky	21000	$1,511,646
50	Alaska	02000	$1,433,228
51	South Dakota	46000	$1,007,626

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

This page was generated on 10/9/2026 6:43:11 AM