Startups based in California, New York, and Massachusetts account for most of the VC tech funding in the United States. However, hotbeds of innovation are being spurred by VCs across the country.
With that in mind, we used CB Insights data to analyze the most active venture capital firm by the number of investments into tech startups in each US state from 2011 to 2016 year-to-date (through 5/9/16).
We based our selection on investments in unique tech companies based in each state (not counting multiple rounds to the same company). We excluded debt deals, and only considered venture capital, corporate venture capital, and super angel firms. When there was a tie across multiple VCs in a state we used number and recency of deals to select the most active tech startup investor for that state.
There were various top VCs (aka smart money VCs) making their mark on the map. For example, General Catalyst was the most active investor into Massachusetts tech startups, Foundry Group was the most active investor in Colorado, New Enterprise Associates in Maryland, and Bessemer Venture Partners in South Dakota. There was just one investor that was the most active VC into more than one state: New Mexico-based Flywheel Ventures was most active investor in New Mexico and Montana.
See the infographic below. The full list of VCs listed is included at the end of this post.
*Austin Ventures is being wound down but is investing out of their last fund. Given that they are still active we included them on our list. The second-place most active investor into Texas companies was Silverton Partners.
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Click on the image below to enlarge.
|Most Active VC By Unique Tech Investments In Each US State 2011 – 2016 YTD (5/9/16)|
|DC||CIT GAP Funds|
|Florida||Insight Venture Partners|
|Illinois||Pritzker Group Venture Capital|
|Iowa||Next Level Ventures|
|Kansas||OpenAir Equity Partners|
|Louisiana||Brick & Mortar Ventures|
|Maryland||New Enterprise Associates|
|Massachusetts||General Catalyst Partners|
|Michigan||Detroit Venture Partners|
|New Hampshire||Borealis Ventures|
|New Jersey||Edison Partners|
|New Mexico||Flywheel Ventures|
|New York||Lerer Hippeau Ventures|
|North Carolina||IDEA Fund Partners|
|Oklahoma||Syncom Venture Partners|
|Rhode Island||Slater Technology Fund|
|South Carolina||Capital A Partners|
|South Dakota||Bessemer Venture Partners|
|Utah||Kickstart Seed Fund|
|Virginia||CIT GAP Funds|
|Washington||Madrona Venture Group|
|West Virginia||Select Venture Partners|
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