3rd Quarter 2003 Venture Capital Survey Results by State 

Data Source: PricewaterhouseCoopers/Thomson Venture Economics/National
Venture Capital Association MoneyTree™ Survey http://www.pwcmoneytree.com/moneytree/index.jsp

Note: Most of the data shown below have been rounded.

State	# Of Deals	$ Invested	Average Deal $
California	265	1,826,400,000	6,892,075
San Jose	149	1,129,600,000	7,581,208
Los Angeles/Orange Co.	29	141,200,000	4,868,966
San Diego	30	213,300,000	7,110,000
San Fran/Berkeley	36	200,000,000	5,555,556
Other	21	142,300,000	6,776,190
Massachusetts	97	666,200,000	6,868,041
Texas	38	275,900,000	7,260,526
New Jersey	22	219,700,000	9,986,364
Colorado	16	129,900,000	8,118,750
Pennsylvania	17	121,200,000	7,129,412
New York	27	116,900,000	4,329,630
North Carolina	14	98,500,000	7,035,714
Maryland	18	97,100,000	5,394,444
Washington	17	93,500,000	5,500,000
Florida	15	72,000,000	4,800,000
Georgia	11	59,700,000	5,427,273
Minnesota	15	46,200,000	3,080,000
Virginia	12	43,700,000	3,641,667
Utah	7	39,700,000	5,671,429
Tennessee	6	33,500,000	5,583,333
Connecticut	6	33,100,000	5,516,667
Illinois	8	32,300,000	4,037,500
Arizona	8	29,200,000	3,650,000
Michigan	5	28,100,000	5,620,000
South Carolina	2	26,100,000	13,050,000
Missouri	6	20,100,000	3,350,000
Oregon	5	17,600,000	3,520,000
New Mexico	3	15,200,000	5,066,667
Nevada	2	14,100,000	7,050,000
Rhode Island	3	12,200,000	4,066,667
Ohio	6	11,200,000	1,866,667
Indiana	1	8,300,000	8,300,000
New Hampshire	3	7,800,000	2,600,000
West Virginia	3	7,800,000	2,600,000
Mississippi	2	5,000,000	2,500,000
District of Columbia	1	3,600,000	3,600,000
Wisconsin	1	1,700,000	1,700,000
Kentucky	1	1,700,000	1,700,000
Maine	1	800,000	800,000
Vermont	1	300,000	300,000
Idaho	1	100,000	100,000
TOTAL	666	4,216,400,000	6,330,931

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