Rank List: States in Profile

Venture Capital Invested Per Deal in 2025 adjusted to 2025

Rank	State	FIPS Code	Adj. Value
1	Vermont	50000	$41,632,784
2	North Dakota	38000	$40,713,884
3	California	06000	$38,584,688
4	Wyoming	56000	$35,249,367
5	Arizona	04000	$21,448,088
6	Massachusetts	25000	$19,454,019
7	Colorado	08000	$18,290,132
8	Maryland	24000	$17,428,817
9	Washington	53000	$17,378,072
10	New York	36000	$13,990,313
11	Texas	48000	$13,694,497
12	Montana	30000	$12,660,750
13	Rhode Island	44000	$12,284,235
14	District of Columbia	11000	$12,122,265
15	Kansas	20000	$11,981,681
16	Alabama	01000	$11,075,444
17	Missouri	29000	$10,374,123
18	Pennsylvania	42000	$10,219,048
19	New Jersey	34000	$9,797,393
20	Connecticut	09000	$9,704,491
21	North Carolina	37000	$9,687,361
22	Utah	49000	$9,679,286
23	Virginia	51000	$8,975,542
24	Oregon	41000	$8,753,951
25	Nebraska	31000	$8,649,922
26	Hawaii	15000	$8,592,601
27	Georgia	13000	$8,550,016
28	New Hampshire	33000	$8,219,694
29	Illinois	17000	$7,922,730
30	Michigan	26000	$7,910,070
31	New Mexico	35000	$7,909,023
32	Florida	12000	$7,104,146
33	Nevada	32000	$7,030,264
34	Minnesota	27000	$6,670,649
35	Tennessee	47000	$6,405,600
36	Arkansas	05000	$6,349,871
37	Ohio	39000	$6,159,679
38	Oklahoma	40000	$6,142,750
39	Idaho	16000	$5,980,832
40	South Dakota	46000	$5,036,261
41	Delaware	10000	$4,406,984
42	South Carolina	45000	$3,937,305
43	Iowa	19000	$3,814,957
44	Indiana	18000	$3,614,402
45	Wisconsin	55000	$3,467,395
46	Maine	23000	$3,280,249
47	Louisiana	22000	$2,036,395
48	Kentucky	21000	$1,737,268
49	Alaska	02000	$1,241,459
50	Mississippi	28000	$479,662
51	West Virginia	54000	$305,497

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

This page was generated on 10/9/2026 6:43:12 AM