Regional Breakdowns_Q2 2023 PitchBook-NVCA Venture Monitor.xlsx

	B	C	D	E	F	G	H	I	J	K	L	M	N	O	P	Q	R	S	T	U	V	W	X	Y	Z	AA	AB	AC	AD	AE	AF	AG	AH	AI	AJ	AK	AL	AM	AN	AO
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6			VC deal activity by state
7			2014				2015				2016				2017				2018				2019				2020				2021				2022*				2023*
8	Drop Down Selection		Q1	Q2	Q3	Q4	Q1	Q2	Q3	Q4	Q1	Q2	Q3	Q4	Q1	Q2	Q3	Q4	Q1	Q2	Q3	Q4	Q1	Q2	Q3	Q4	Q1	Q2	Q3	Q4	Q1	Q2	Q3	Q4	Q1	Q2	Q3	Q4	Q1	Q2
9	Alabama	Capital Invested ($M)	0.91	8.35	24.98	9.80	6.84	6.69	44.65	22.10	4.75	22.36	18.41	13.83	13.95	57.58	21.67	0.21	27.02	21.19	10.89	13.61	25.87	14.16	8.98	60.47	68.08	23.39	8.52	75.56	184.47	11.47	43.22	20.57	40.29	57.24	39.05	28.96	204.27	250.38
10	Alabama	Deal Count	5	4	5	4	5	3	4	6	7	6	11	9	7	11	8	3	9	11	7	10	16	7	9	12	11	8	10	13	30	9	16	11	13	10	12	17	16	8
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12	Alaska	Capital Invested ($M)	0.50	1.93	90.00	0.50	4.96	0.24	1.07	0.00	0.12	0.52	1.74	0.00	0.34	0.18	2.18	0.28	0.19	0.00	4.85	3.45	9.34	3.93	15.08	4.36	2.45	12.00	2.30	0.20	0.25	1.60	7.88	0.20	0.00	0.30	1.29	66.75	2.91	4.43
13	Alaska	Deal Count	1	1	1	1	2	1	1	0	1	2	1	0	2	2	2	2	1	0	2	3	5	3	1	5	2	3	1	1	2	1	3	2	1	2	4	4	2	2
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15	Arizona	Capital Invested ($M)	209.07	93.55	129.65	129.62	141.91	96.75	58.64	136.01	242.47	112.84	294.61	319.06	508.29	74.93	176.36	134.17	89.26	316.30	1,780.44	308.99	451.14	287.22	418.14	198.11	178.77	182.44	251.21	355.24	271.54	232.74	664.57	930.27	223.28	361.80	265.46	554.09	644.35	147.62
16	Arizona	Deal Count	38	34	30	33	38	44	36	39	42	36	21	30	37	30	41	34	30	25	29	40	35	41	46	31	37	27	36	43	42	52	46	49	43	46	45	38	31	31
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18	Arkansas	Capital Invested ($M)	3.46	7.41	16.20	3.70	3.35	0.87	7.95	5.67	12.51	2.12	5.83	17.66	1.66	4.05	7.81	12.70	17.98	4.25	31.61	2.94	30.81	38.67	2.77	38.52	8.84	27.17	16.33	8.98	49.29	11.24	67.95	58.50	64.11	41.14	160.51	11.33	42.08	59.76
19	Arkansas	Deal Count	7	7	3	10	7	5	11	10	6	7	4	9	4	10	7	9	12	7	6	5	9	11	3	9	6	5	11	4	9	8	9	8	8	10	13	7	8	7
20
21	California	Capital Invested ($M)	7,847.72	11,821.26	7,709.26	9,217.87	10,106.65	10,390.68	11,359.73	10,693.78	9,587.60	17,962.92	8,968.34	7,379.75	8,740.06	11,093.60	11,679.66	10,925.83	15,513.21	16,510.68	17,421.81	29,845.16	18,028.03	18,507.03	18,466.74	15,890.02	20,810.47	19,678.69	25,525.06	22,049.66	39,128.93	37,683.07	42,420.90	44,868.32	39,048.19	28,691.37	19,918.16	14,944.43	23,793.85	19,234.89
22	California	Deal Count	994	976	1010	918	1044	1024	962	917	1052	937	892	835	1060	998	956	962	1178	1050	973	1076	1250	1104	1128	1035	1240	980	1089	1230	1617	1538	1591	1590	1770	1459	1194	1080	1061	850
23
24	Colorado	Capital Invested ($M)	214.35	417.41	299.40	1,425.43	681.17	438.38	394.45	403.64	1,091.92	243.78	646.63	308.61	361.86	391.21	322.56	332.79	245.13	657.39	481.70	455.36	488.16	884.71	746.10	778.61	564.26	469.10	1,113.65	1,306.02	1,964.72	1,716.96	628.07	3,125.01	1,196.94	2,268.25	974.64	1,156.41	1,170.02	1,219.49
25	Colorado	Deal Count	85	75	78	95	118	81	103	89	100	67	74	76	103	99	92	91	90	89	101	93	125	109	103	129	127	93	95	111	150	149	107	124	129	134	113	97	102	89
26
27	Connecticut	Capital Invested ($M)	350.69	114.59	229.27	159.31	79.74	55.02	81.32	232.37	80.23	88.48	64.26	45.89	360.13	97.90	178.09	93.16	187.54	146.93	116.12	110.42	347.38	89.99	237.93	179.35	191.00	484.99	409.98	151.91	293.57	764.90	792.20	405.88	376.31	1,834.22	159.86	792.96	144.91	138.48
28	Connecticut	Deal Count	33	27	24	28	34	32	29	26	30	19	26	18	29	32	32	29	32	24	33	40	30	32	28	26	42	36	32	36	53	51	46	44	38	49	39	45	39	28
29
30	Delaware	Capital Invested ($M)	25.82	21.75	29.06	62.38	185.71	32.14	103.19	28.24	77.88	37.63	36.16	39.25	32.98	70.42	46.80	63.09	40.12	61.63	84.89	114.98	59.20	203.06	75.75	129.27	643.39	107.11	322.48	336.33	235.36	1,326.23	732.55	908.18	1,096.25	716.45	409.30	329.49	447.86	356.37
31	Delaware	Deal Count	23	13	16	9	18	19	22	17	28	19	17	21	37	30	26	19	28	32	41	45	44	48	53	41	76	51	72	69	135	92	142	130	199	153	117	95	108	90
32
33	District of Columbia	Capital Invested ($M)	41.57	29.52	67.97	140.82	42.99	128.12	236.08	42.24	59.82	88.62	163.79	68.84	64.28	237.17	71.02	297.88	15.89	88.32	200.09	409.51	126.38	110.57	114.47	246.19	94.77	343.90	116.19	230.59	277.97	1,641.53	677.74	196.82	397.82	446.77	478.75	165.35	197.55	142.60
34	District of Columbia	Deal Count	16	14	20	24	17	19	17	21	16	29	15	20	22	17	17	24	14	19	23	19	25	26	18	13	31	14	20	16	30	34	28	29	36	25	24	17	26	15
35
36	Florida	Capital Invested ($M)	266.08	272.64	610.50	709.22	219.24	231.52	323.42	291.20	1,025.83	236.22	284.43	263.28	357.93	473.06	325.13	416.09	1,367.61	533.22	395.24	1,253.01	780.29	856.53	671.34	920.38	449.99	716.75	864.00	613.18	1,752.53	1,367.11	2,100.25	2,182.68	4,041.11	2,263.38	1,732.81	1,309.04	626.83	754.25
37	Florida	Deal Count	84	84	92	80	91	82	78	86	114	73	86	71	97	97	90	105	106	88	94	118	120	100	105	107	135	98	109	108	186	146	197	205	220	204	181	162	151	118
38
39	Georgia	Capital Invested ($M)	124.86	317.53	103.10	354.99	323.73	253.46	220.50	354.24	185.05	169.18	86.43	98.37	376.29	180.84	537.71	217.04	185.83	221.51	206.46	553.18	586.31	622.49	902.64	286.46	613.21	297.02	393.15	1,004.69	1,114.82	1,158.39	987.34	917.23	818.37	841.75	394.27	410.42	619.79	136.58
40	Georgia	Deal Count	52	46	50	47	60	39	48	53	54	44	38	31	58	41	53	40	64	55	39	56	66	59	49	54	67	57	53	67	95	83	86	53	102	80	67	73	69	31
41
42	Hawaii	Capital Invested ($M)	2.82	0.05	3.51	1.26	0.60	1.74	0.06	8.13	19.78	17.94	0.00	0.00	2.61	4.06	4.29	6.97	2.61	0.06	8.19	8.00	6.88	7.08	3.26	23.68	3.12	10.24	9.65	0.00	4.37	43.06	21.80	29.49	9.00	22.11	26.19	2.59	20.51	13.80
43	Hawaii	Deal Count	3	1	3	4	3	6	3	6	6	4	1	0	8	4	4	4	4	2	3	2	7	6	4	10	5	3	1	1	4	7	4	10	4	10	7	6	4	3
44
45	Idaho	Capital Invested ($M)	1.67	6.85	12.04	4.21	19.25	56.84	3.73	6.08	5.77	9.90	4.39	9.00	96.64	11.69	16.05	1.49	10.96	11.37	19.17	24.59	31.35	2.40	30.00	21.62	11.12	43.31	18.55	14.74	70.93	77.51	146.04	109.40	113.70	65.55	36.95	0.00	11.26	10.84
46	Idaho	Deal Count	4	4	6	7	7	9	4	8	7	9	4	4	12	5	8	6	8	7	6	7	9	6	4	9	7	8	8	8	10	14	13	9	11	15	9	3	9	9
47
48	Illinois	Capital Invested ($M)	166.36	215.01	662.94	751.86	222.69	282.60	306.19	703.20	448.28	497.15	226.15	315.70	238.80	972.90	445.40	482.38	686.93	394.41	460.62	601.00	1,288.24	535.15	778.41	395.58	552.52	698.92	465.98	1,383.44	2,180.51	2,234.90	1,278.52	1,209.93	1,734.25	6,162.61	1,033.67	1,452.74	643.41	662.73
49	Illinois	Deal Count	74	72	68	74	90	77	70	82	103	84	68	66	70	93	78	68	92	74	70	87	100	86	77	93	103	80	71	105	135	115	110	136	127	104	116	107	95	88
50
51	Indiana	Capital Invested ($M)	83.34	93.92	129.52	25.54	52.56	83.36	36.05	37.30	61.65	77.66	37.13	38.31	66.94	69.34	47.86	40.40	122.31	26.64	45.97	114.87	163.79	83.73	117.42	85.10	45.51	86.30	143.32	107.77	192.84	60.98	184.08	221.91	79.77	155.01	240.90	214.18	111.90	153.25
52	Indiana	Deal Count	24	29	16	16	27	25	20	19	26	24	21	20	33	29	24	22	32	20	28	33	38	32	41	37	41	33	32	38	35	34	57	51	49	47	49	49	59	31
53
54	Iowa	Capital Invested ($M)	2.00	8.41	16.53	17.07	3.34	7.24	14.95	0.89	11.06	5.55	3.14	21.50	18.03	3.86	17.54	17.86	14.91	18.53	45.50	6.51	7.23	6.06	8.59	8.34	1.17	22.55	60.38	58.74	72.94	13.11	108.62	64.95	49.47	38.62	100.78	62.45	67.43	40.49
55	Iowa	Deal Count	5	5	7	13	8	6	5	4	7	4	7	7	11	7	9	8	11	7	6	5	7	5	8	6	5	9	12	12	13	13	13	14	13	15	11	13	14	11
56
57	Kansas	Capital Invested ($M)	39.49	7.77	45.49	12.06	129.01	25.44	47.36	28.89	37.83	14.68	11.75	9.61	64.95	26.25	4.24	106.34	160.59	6.20	53.31	35.78	58.56	26.68	213.57	38.94	56.96	6.72	82.72	15.83	417.13	32.86	62.98	125.32	331.56	105.18	157.19	32.45	106.82	46.23
58	Kansas	Deal Count	10	10	11	8	21	12	3	14	17	5	7	9	9	18	2	13	9	4	11	9	11	6	9	13	7	5	7	10	8	8	15	12	14	14	6	11	13	9
59
60	Kentucky	Capital Invested ($M)	35.62	43.48	10.31	41.68	15.19	51.24	30.55	87.41	11.62	23.49	20.11	38.19	39.99	25.35	79.67	5.51	112.10	17.72	21.61	15.68	23.49	445.38	175.89	4.87	19.91	72.99	157.95	48.59	22.85	131.20	68.89	18.86	28.27	7.52	18.90	21.56	11.49	16.87
61	Kentucky	Deal Count	16	8	11	12	20	18	10	12	11	13	16	8	13	14	10	9	16	10	13	10	16	19	11	9	20	12	15	17	18	11	22	10	15	11	22	20	10	11
62
63	Louisiana	Capital Invested ($M)	1.72	2.38	4.19	5.89	4.81	6.39	15.46	13.96	38.77	9.93	6.96	0.70	22.25	71.29	1.76	15.98	9.93	10.42	7.99	2.92	13.31	15.03	1.10	85.56	21.19	11.68	62.71	3.25	61.24	34.25	13.14	9.85	13.43	51.48	60.65	51.14	50.11	20.52
64	Louisiana	Deal Count	9	5	4	7	6	10	7	5	14	10	6	2	8	6	4	6	7	4	4	4	7	11	7	6	8	5	6	2	6	11	10	9	10	5	16	10	8	10
65
66	Maine	Capital Invested ($M)	1.68	24.81	3.00	1.92	8.07	2.75	75.71	4.52	0.22	9.79	1.94	4.44	0.10	3.81	228.88	8.00	15.57	10.27	10.16	4.87	27.87	1.60	22.95	23.00	5.82	14.33	60.08	30.84	3.50	58.05	50.90	16.55	51.82	9.41	9.39	18.63	51.10	20.99
67	Maine	Deal Count	8	9	6	2	5	3	9	4	4	13	3	4	2	4	9	3	10	7	8	6	15	1	10	9	11	11	6	11	3	12	12	9	10	7	6	8	11	10
68
69	Maryland	Capital Invested ($M)	117.14	227.56	163.12	130.65	270.16	131.30	101.94	383.16	303.92	67.70	155.05	59.59	306.08	148.88	80.11	161.61	601.37	253.15	279.86	237.28	212.67	266.76	247.01	237.49	230.36	276.85	404.78	405.53	673.01	754.14	474.11	478.73	533.65	720.16	256.71	288.87	148.13	697.38
70	Maryland	Deal Count	41	39	45	42	44	25	44	47	55	31	35	43	52	40	42	35	51	39	48	35	47	48	43	49	56	42	46	43	73	67	48	48	66	59	52	42	50	50
71
72	Massachusetts	Capital Invested ($M)	1,607.01	1,276.51	1,089.58	1,459.48	2,491.79	1,629.72	2,533.58	1,623.13	2,058.30	2,026.18	2,179.34	1,534.65	2,267.94	1,745.92	2,838.83	2,968.45	2,969.60	3,466.69	2,905.90	3,444.80	2,954.87	3,118.10	3,092.60	2,716.92	4,151.63	4,340.92	4,105.59	4,092.95	8,568.49	8,952.65	7,388.40	9,899.75	6,841.74	5,782.13	4,929.23	4,650.06	3,911.81	4,426.38
73	Massachusetts	Deal Count	191	166	171	169	214	218	188	165	181	173	157	172	221	192	197	188	221	215	195	204	235	202	223	208	265	208	213	221	308	303	288	288	316	258	234	256	195	182
74
75	Michigan	Capital Invested ($M)	98.73	121.99	43.08	51.83	175.76	111.02	143.40	163.10	29.67	70.71	50.63	32.86	87.98	75.66	49.50	139.54	75.18	96.30	163.68	117.06	223.40	93.24	220.09	126.28	69.86	293.48	95.31	543.99	199.12	174.04	326.26	309.64	410.03	232.64	301.37	232.94	513.83	115.01
76	Michigan	Deal Count	34	34	36	30	44	39	34	36	30	27	26	16	24	26	36	23	35	34	38	41	46	25	40	31	38	60	35	49	54	41	52	62	53	43	50	48	43	39
77
78	Minnesota	Capital Invested ($M)	190.59	143.55	92.98	178.60	97.68	231.05	138.01	281.45	107.52	182.89	158.25	112.32	127.20	262.85	170.38	235.51	92.83	260.92	277.17	776.30	182.23	263.67	90.68	840.24	237.93	114.12	802.65	1,097.92	232.29	182.76	1,724.03	594.38	908.80	320.64	93.57	804.76	138.93	298.13
79	Minnesota	Deal Count	42	31	27	33	28	39	35	44	39	37	30	24	45	39	34	24	41	43	44	46	39	34	31	41	48	28	32	32	57	44	49	50	62	43	32	47	50	42
80
81	Mississippi	Capital Invested ($M)	12.95	2.15	50.78	0.80	6.97	0.68	1.63	18.40	0.95	7.20	0.40	5.00	0.00	0.54	7.13	8.18	7.67	1.55	12.38	1.70	0.90	3.11	2.62	3.97	1.00	1.00	0.20	0.00	28.41	1.11	11.16	0.00	0.98	49.20	17.72	0.00	0.00	0.00
82	Mississippi	Deal Count	3	4	4	2	5	2	3	1	3	2	3	2	0	1	2	4	4	3	3	4	3	4	5	2	1	2	3	0	4	2	1	0	3	5	5	1	0	0
83
84	Missouri	Capital Invested ($M)	19.95	156.24	127.66	43.50	41.65	49.74	131.14	120.79	101.00	17.67	37.62	36.93	122.82	47.74	162.01	46.11	93.21	45.72	332.66	228.80	56.99	56.31	185.32	185.75	92.43	129.77	64.67	288.30	166.35	434.13	152.88	406.68	225.40	93.43	122.50	521.30	120.17	351.38
85	Missouri	Deal Count	34	21	27	22	30	26	29	22	36	21	15	14	23	23	18	17	22	24	18	28	26	19	28	26	29	34	27	25	36	23	27	34	31	16	22	25	26	21
86
87	Montana	Capital Invested ($M)	10.54	27.50	5.13	7.28	19.30	2.63	2.53	17.29	9.94	21.69	8.40	11.39	52.33	5.28	9.65	42.26	23.67	15.26	30.70	10.23	34.76	14.10	64.02	2.30	7.42	27.10	9.49	77.17	30.12	20.80	69.37	2.53	54.21	11.17	115.76	94.12	23.80	23.90
88	Montana	Deal Count	6	2	4	6	6	6	4	3	5	5	7	6	7	4	2	6	6	3	6	3	13	3	9	7	7	6	8	12	9	3	14	5	10	7	8	4	11	8
89
90	Nebraska	Capital Invested ($M)	2.37	25.41	6.09	34.65	81.92	74.26	16.70	34.32	45.50	31.67	68.64	4.71	7.56	6.67	34.96	37.59	127.69	16.94	56.57	4.72	10.56	8.32	11.48	29.94	28.92	12.01	62.50	2.67	154.64	140.26	70.50	476.01	83.67	30.78	363.93	16.51	4.90	20.45
91	Nebraska	Deal Count	3	11	6	9	8	11	5	12	7	9	9	11	7	8	4	9	8	5	10	8	7	5	12	11	8	8	7	7	17	12	10	20	6	15	13	10	4	14
92
93	Nevada	Capital Invested ($M)	40.07	91.17	21.65	86.83	27.25	32.59	510.43	82.31	104.24	35.14	28.57	32.97	84.78	61.64	77.72	102.97	42.85	110.98	25.48	45.76	192.83	52.90	81.21	145.54	62.49	137.67	219.08	58.93	89.29	253.78	1,197.44	693.13	522.24	271.33	437.20	136.06	103.15	344.35
94	Nevada	Deal Count	26	18	11	25	20	22	17	13	29	12	15	16	19	21	14	17	18	23	13	14	34	12	14	23	17	13	21	23	39	28	27	40	38	26	35	22	18	19
95
96	New Hampshire	Capital Invested ($M)	12.50	32.07	13.78	111.98	158.92	97.50	19.19	60.41	42.94	74.00	78.70	4.25	42.69	49.19	12.38	50.41	25.75	21.68	14.01	50.84	42.63	35.86	50.63	43.85	58.19	15.78	106.67	15.36	22.79	42.95	50.05	51.46	103.40	65.81	66.98	40.96	23.50	49.10
97	New Hampshire	Deal Count	7	7	5	12	14	14	6	14	9	9	10	5	6	7	6	9	10	7	2	12	12	9	10	14	13	7	6	9	11	10	11	12	15	13	15	12	7	6
98
99	New Jersey	Capital Invested ($M)	191.76	137.14	487.31	244.11	404.55	321.61	240.26	655.02	117.37	350.82	234.08	301.61	177.42	214.42	270.39	394.72	474.24	388.05	274.93	212.34	1,169.02	408.93	536.04	444.70	527.62	247.02	864.10	326.61	996.42	1,627.66	1,582.55	2,244.07	752.93	566.97	317.80	295.43	507.50	859.92
100	New Jersey	Deal Count	35	31	38	35	37	53	33	44	46	27	38	38	38	38	56	43	57	52	34	44	63	44	39	61	53	36	43	51	72	66	68	71	98	58	49	66	61	54