Value of VC investment in the U.S. 2023, by state

In 2023, the state that had the highest value of venture capital (VC) investment in the United States was California. The value of VC investments made in California amounted to over 81 billion U.S. dollars, followed by New York with nearly 21.65 billion U.S. dollars. Massachusetts secured the third position with around 16 billion U.S. dollars worth of investment. In terms of deal volume, California also led the U.S. market as the state with the  highest number of venture capital deals closed.

How has venture capital investment in the U.S. changed over time?

Over the course of the last five years, the value of venture capital investment in the United States has generally increased, albeit with some fluctuation. Despite the effects of the COVID-19 pandemic that have impacted economies worldwide, VC investments amounted to a value of around 130 billion U.S. dollars in 2020 – a significant increase from the value obtained in the previous year.

Which industries received the most VC funding?

In the United States, the value of venture capital investment was highest in the software industry in 2023, with deal value of over 66 billion U.S. dollars. This was followed by the commercial products and service industry, and then the pharma and biotech sector.