2nd Q 2003 Moneytree Venture Capital Survey Results by State

State	# Of Deals	$ Invested	Average Deal $
California	254	1,908,000,000	7,511,811
San Jose	145	1,110,100,000	7,655,862
Los Angeles/Orange Co.	38	302,900,000	7,971,053
San Diego	23	155,900,000	6,778,261
San Francisco/Berkeley	43	322,300,000	7,495,349
Other	5	16,800,000	3,360,000
Massachusetts	57	377,300,000	6,619,298
Texas	42	266,800,000	6,352,381
Colorado	18	229,500,000	12,750,000
New York	32	221,000,000	6,906,250
New Jersey	25	141,600,000	5,664,000
Pennsylvania	21	131,300,000	6,252,381
Connecticut	11	114,000,000	10,363,636
North Carolina	24	104,900,000	4,370,833
Washington (state)	17	82,600,000	4,858,824
Virginia	19	75,200,000	3,957,895
Minnesota	15	63,100,000	4,206,667
Washington, DC	3	59,500,000	19,833,333
Georgia	19	58,400,000	3,073,684
New Hampshire	9	55,300,000	6,144,444
Florida	14	45,600,000	3,257,143
Maryland	22	40,400,000	1,836,364
Missouri	6	39,500,000	6,583,333
Michigan	4	37,900,000	9,475,000
Illinois	8	28,900,000	3,612,500
Indiana	3	22,200,000	7,400,000
Utah	3	21,000,000	7,000,000
Oregon	6	20,300,000	3,383,333
Oklahoma	2	18,600,000	9,300,000
Wisconsin	3	16,400,000	5,466,667
Rhode Island	2	15,700,000	7,850,000
Arizona	5	13,700,000	2,740,000
Ohio	5	12,600,000	2,520,000
West Virginia	1	8,000,000	8,000,000
Hawaii	2	7,600,000	3,800,000
Alabama	1	6,000,000	6,000,000
Vermont	2	4,200,000	2,100,000
Kentucky	1	1,400,000	1,400,000
Tennessee	4	1,200,000	300,000
Louisiana	1	1,200,000	1,200,000
Idaho	1	1,100,000	1,100,000
Nebraska	1	600,000	600,000
Mississippi	1	200,000	200,000
South Carolina	1	-	-
TOTAL	665	4,252,800,000	6,395,188