If you want to raise VC, you should be in California, NY or Massachusetts. Period.

NO Venture Capital for you

The reality is you can start a technology company anywhere today. But if you want to raise venture capital, it still pays to be in California, NY or Massachusetts.

Q1 2017 VC Report: Global Funding Rises 15%
Just 3 new VC-backed companies topped $1B+ valuations in Q1’17, remaining well behind 2015’s pace. Download the CB Insights and PwC MoneyTree Report today.

In fact, more VC deals are going into the big 3 markets for venture now than in recent memory. Since 2010, the share of VC deals to those 3 markets has steadily grown.
VC deals by state

When we look at the US VC landscape on a dollars basis, the skew towards the big 3 is even more significant. With the vast majority of unicorn companies (full unicorn list here) in these 3 markets (especially California) and their mega-financing rounds, this should not be all that surprising.

venture capital funding by state