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Useful Stats: Venture Capital Investment Dollars, Deals by State, 2009-2014
U.S. venture capital investment hit $48.3 billion in 2014, its highest level since 2000, according to data from the National Venture Capital Association (NVCA) and PricewaterhouseCoopers (PwC). Investments jumped 61 percent over the previous year in terms of dollars. Deals were up as well, but by a more modest 4 percent to 4,356 deals in 2014, indicating the growth of deal size and the presence of a number of “megadeals.” NVCA also noted that investments were dispersed throughout the country, with 160 U.S. metros receiving some venture capital.
A few trends drove the large bump in investment dollars last year. In 2009, the venture capital industry hit its lowest point since the 1990s following the Great Recession, according to NVCA/PwC. Since that year, the industry has grown, though investment activity seemed to reach equilibrium in 2011, hovering around $29 million in 4,000 deals through 2013. In 2014, the industry broke out of that equilibrium, with a sharp uptick in investment in the Software and Internet-specific industries. Both industries reached their highest point since the dot com boom in 2000.
Last year also saw the rise of megadeals, which NVCA/PwC defines as deals exceeding $100 million. More than 40 deals met that criterion last year. Two deals exceeded $1 billion, which is without precedent. Read the NVCA/PwC release…
SSTI will provide more detail on venture capital activity by industry and stage of company in future weeks.
A second NVCA report examines 2014 investment activity by metro area. NVCA notes that a larger number of metro areas reported some venture activity than at any point in the last five years. Companies in 160 metros received some investment, including 12 that had not had any activity in the five years covered by NVCA. San Francisco, San Jose, Boston, New York and Los Angeles comprise the top five cities. Read the release…
SSTI has prepared a table showing venture capital data by dollars and deals in each state from 2009-2014. California continues to lead the rest of the country by a significant margin, representing 56 percent of all U.S. dollars. Thirteen other states more than doubled their investment level in 2014 over the previous year. Download the table in Excel format…
SSTI will examine state investment in more detail in the coming weeks, including per capita investment.
Venture Capital Dollars by State, 2009-2014
| State | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 |
|---|---|---|---|---|---|---|
| U.S. Total | $20,500,872,900 | $23,386,821,100 | $29,462,811,000 | $27,578,404,700 | $29,964,019,900 | $48,348,586,400 |
| Alaska | $0 | $0 | $0 | $0 | $0 | $0 |
| Alabama | $43,177,000 | $600,000 | $3,515,000 | $23,106,000 | $4,237,000 | $10,894,000 |
| Arkansas | $0 | $5,000,100 | $0 | $5,000,000 | $85,507,000 | $19,874,100 |
| Arizona | $92,687,000 | $78,430,100 | $229,138,200 | $243,438,100 | $113,299,300 | $257,026,000 |
| California | $10,279,493,200 | $11,879,510,800 | $14,723,780,900 | $14,519,270,300 | $15,139,603,100 | $27,151,513,000 |
| Colorado | $625,138,200 | $449,929,600 | $615,706,300 | $610,615,300 | $464,501,000 | $793,054,800 |
| Connecticut | $190,240,100 | $218,156,600 | $156,729,700 | $151,447,200 | $212,490,800 | $521,384,800 |
| District of Columbia | $59,180,400 | $107,454,900 | $53,419,600 | $60,106,200 | $288,480,500 | $242,247,100 |
| Delaware | $20,609,100 | $32,176,000 | $26,234,200 | $9,221,900 | $70,793,000 | $16,873,800 |
| Florida | $341,627,100 | $239,383,100 | $346,284,400 | $202,630,400 | $425,496,400 | $862,460,900 |
| Georgia | $313,618,900 | $338,426,000 | $383,448,100 | $262,328,300 | $384,475,400 | $495,851,800 |
| Hawaii | $7,364,000 | $9,499,900 | $600,000 | $645,000 | $2,469,000 | $1,296,000 |
| Iowa | $84,053,100 | $51,500,000 | $28,402,000 | $6,332,000 | $33,564,900 | $21,980,000 |
| Idaho | $14,606,000 | $7,750,000 | $5,145,000 | $15,150,000 | $6,500,000 | $1,873,000 |
| Illinois | $258,710,100 | $658,593,000 | $769,817,600 | $622,932,100 | $453,388,800 | $1,069,269,700 |
| Indiana | $232,077,900 | $79,969,300 | $177,927,100 | $84,161,300 | $23,413,100 | $47,306,900 |
| Kansas | $7,516,000 | $41,714,000 | $57,242,000 | $47,601,700 | $32,851,200 | $51,441,100 |
| Kentucky | $17,600,000 | $16,729,900 | $12,546,000 | $23,643,000 | $15,374,700 | $47,407,000 |
| Louisiana | $13,021,200 | $17,951,000 | $21,863,900 | $628,200 | $5,731,100 | $47,471,000 |
| Massachusetts | $2,360,395,700 | $2,421,402,100 | $3,132,535,100 | $3,345,403,800 | $3,057,235,800 | $4,678,599,700 |
| Maryland | $385,319,400 | $446,716,300 | $314,026,900 | $405,769,700 | $649,382,400 | $363,462,400 |
| Maine | $11,350,000 | $4,328,000 | $38,629,000 | $12,787,200 | $27,535,900 | $18,669,000 |
| Michigan | $178,454,800 | $151,658,500 | $84,752,900 | $245,652,000 | $111,062,400 | $218,983,000 |
| Minnesota | $282,300,800 | $138,911,500 | $274,355,000 | $259,907,000 | $269,895,000 | $368,434,800 |
| Missouri | $17,439,900 | $96,977,500 | $134,415,300 | $21,461,000 | $77,350,800 | $170,101,800 |
| Mississippi | $1,250,000 | $0 | $1,000,000 | $4,623,000 | $700,000 | $0 |
| Montant | $14,530,000 | $1,910,000 | $3,215,000 | $5,575,100 | $25,000 | $0 |
| North Carolina | $254,907,400 | $428,556,300 | $304,634,900 | $181,171,300 | $259,611,900 | $341,541,500 |
| North Dakota | $4,700,000 | $3,161,000 | $4,000,000 | $2,400,000 | $24,052,000 | $7,500,100 |
| Nebraska | $0 | $11,500,000 | $0 | $3,115,000 | $11,044,900 | $41,530,300 |
| New Hampshire | $47,579,400 | $56,944,100 | $56,258,100 | $81,126,000 | $106,438,900 | $112,793,300 |
| New Jersey | $666,106,800 | $455,229,700 | $485,860,400 | $417,347,600 | $322,577,200 | $320,431,700 |
| New Mexico | $5,477,000 | $10,085,200 | $64,919,100 | $35,131,000 | $26,807,100 | $12,657,000 |
| Nevada | $15,400,000 | $33,943,000 | $9,500,000 | $3,273,200 | $15,114,200 | $45,266,000 |
| New York | $1,063,645,000 | $1,412,628,900 | $2,429,055,100 | $1,920,793,100 | $2,809,005,800 | $4,263,917,000 |
| Ohio | $122,443,900 | $177,470,900 | $432,536,700 | $266,578,500 | $254,144,500 | $268,686,800 |
| Oklahoma | $4,506,000 | $13,000,000 | $27,115,000 | $33,036,000 | $8,213,900 | $13,555,100 |
| Oregon | $67,377,100 | $183,412,300 | $236,810,800 | $124,617,800 | $138,490,100 | $191,595,100 |
| Pennsylvania | $455,898,200 | $524,168,500 | $510,690,500 | $524,181,100 | $462,929,200 | $774,665,400 |
| Puerto Rico | $0 | $4,494,500 | $0 | $100,000 | $0 | $0 |
| Rhode Island | $30,036,000 | $59,302,000 | $42,151,000 | $85,059,100 | $81,662,800 | $124,090,800 |
| South Carolina | $7,100,000 | $26,715,000 | $59,725,000 | $39,499,900 | $85,695,200 | $47,731,000 |
| South Dakota | $800,000 | $5,000,000 | $4,146,000 | $0 | $11,900,000 | $3,001,000 |
| Tennessee | $75,037,200 | $67,776,500 | $107,387,800 | $97,708,800 | $108,538,000 | $144,221,000 |
| Texas | $784,702,400 | $1,067,390,300 | $1,580,151,700 | $1,019,488,100 | $1,344,756,000 | $1,506,448,000 |
| Utah | $162,662,900 | $139,000,800 | $244,458,400 | $318,397,200 | $316,180,700 | $800,996,600 |
| Virginia | $240,763,800 | $409,316,300 | $617,964,900 | $272,430,200 | $637,626,800 | $475,986,300 |
| Vermont | $29,150,000 | $33,069,000 | $24,840,100 | $4,415,000 | $21,042,300 | $39,356,000 |
| Washington | $581,418,200 | $621,262,600 | $550,915,200 | $852,236,100 | $927,748,400 | $1,246,773,300 |
| Wisconsin | $25,876,700 | $134,966,000 | $72,861,100 | $92,295,900 | $33,876,400 | $86,795,300 |
| West Virginia | $3,000,000 | $3,750,000 | $2,100,000 | $14,568,000 | $1,200,000 | $1,572,100 |
| Wyoming | $0 | $10,000,000 | $0 | $0 | $0 | $0 |
Venture Capital Deals by State, 2009-2014
| State | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 |
|---|---|---|---|---|---|---|
| U.S. Total | 3,133 | 3,612 | 3,937 | 3,936 | 4,193 | 4,356 |
| Alaska | 0 | 0 | 0 | 0 | 0 | 0 |
| Alabama | 10 | 2 | 2 | 6 | 4 | 3 |
| Arkansas | 0 | 1 | 0 | 1 | 4 | 5 |
| Arizona | 18 | 16 | 22 | 20 | 25 | 31 |
| California | 1,284 | 1,450 | 1,594 | 1,638 | 1,687 | 1,804 |
| Colorado | 93 | 87 | 107 | 109 | 83 | 86 |
| Connecticut | 42 | 63 | 56 | 49 | 52 | 54 |
| District of Columbia | 9 | 16 | 11 | 26 | 35 | 32 |
| Delaware | 7 | 9 | 10 | 7 | 5 | 9 |
| Florida | 37 | 46 | 55 | 36 | 49 | 45 |
| Georgia | 46 | 69 | 60 | 55 | 41 | 60 |
| Hawaii | 3 | 3 | 3 | 3 | 3 | 4 |
| Iowa | 9 | 2 | 3 | 2 | 3 | 8 |
| Idaho | 4 | 4 | 3 | 4 | 2 | 2 |
| Illinois | 55 | 75 | 101 | 83 | 92 | 99 |
| Indiana | 15 | 17 | 14 | 17 | 13 | 20 |
| Kansas | 17 | 36 | 46 | 12 | 10 | 11 |
| Kentucky | 10 | 15 | 9 | 8 | 7 | 13 |
| Louisiana | 11 | 3 | 8 | 3 | 6 | 4 |
| Massachusetts | 342 | 372 | 395 | 427 | 379 | 396 |
| Maryland | 77 | 75 | 73 | 64 | 80 | 87 |
| Maine | 4 | 7 | 5 | 6 | 5 | 12 |
| Michigan | 37 | 31 | 36 | 52 | 74 | 50 |
| Minnesota | 37 | 29 | 47 | 31 | 36 | 38 |
| Missouri | 12 | 15 | 23 | 12 | 38 | 48 |
| Mississippi | 4 | 0 | 1 | 2 | 2 | 1 |
| Montant | 1 | 3 | 2 | 6 | 1 | 0 |
| North Carolina | 39 | 58 | 48 | 35 | 52 | 54 |
| North Dakota | 3 | 1 | 1 | 1 | 3 | 2 |
| Nebraska | 0 | 4 | 1 | 4 | 9 | 18 |
| New Hampshire | 13 | 10 | 13 | 8 | 20 | 10 |
| New Jersey | 77 | 71 | 64 | 55 | 45 | 36 |
| New Mexico | 13 | 8 | 10 | 15 | 17 | 12 |
| Nevada | 4 | 5 | 3 | 4 | 9 | 8 |
| New York | 203 | 296 | 345 | 356 | 427 | 434 |
| Ohio | 59 | 63 | 73 | 56 | 78 | 65 |
| Oklahoma | 4 | 2 | 4 | 6 | 8 | 8 |
| Oregon | 15 | 35 | 37 | 30 | 38 | 32 |
| Pennsylvania | 137 | 161 | 151 | 189 | 237 | 189 |
| Puerto Rico | 0 | 1 | 0 | 1 | 0 | 0 |
| Rhode Island | 15 | 11 | 14 | 15 | 13 | 15 |
| South Carolina | 5 | 9 | 4 | 5 | 14 | 5 |
| South Dakota | 3 | 1 | 2 | 1 | 1 | 1 |
| Tennessee | 17 | 30 | 37 | 49 | 64 | 84 |
| Texas | 126 | 163 | 167 | 171 | 161 | 187 |
| Utah | 34 | 27 | 49 | 44 | 35 | 43 |
| Virginia | 49 | 58 | 77 | 79 | 68 | 75 |
| Vermont | 7 | 7 | 8 | 5 | 9 | 13 |
| Washington | 108 | 118 | 125 | 111 | 130 | 113 |
| Wisconsin | 14 | 21 | 15 | 14 | 18 | 28 |
| West Virginia | 3 | 4 | 2 | 3 | 1 | 2 |
| Wyoming | 0 | 1 | 0 | 0 | 0 | 0 |
Source: National Venture Capital Association/PricewaterhouseCoopers
Prepared by SSTI