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Where U.S. Private Venture Money Is Raised
Share of U.S. venture-like money raised by companies based in each state, SEC Form D, trailing four quarters, %
2 of 5 series are above their level a year earlier·1 of 5 is at a five-year high
Plays the chart through its history. Pauses are where the data set a record or moved most.
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Palanor calculation from SEC Form D filings (public domain). Form D is a notice a company files when it sells securities under Rule 506, not an announced funding round: companies that raise without one, or file late or never, are missing. Venture-like offerings: equity sold under Rule 506 by U.S. private operating companies; funds, deal vehicles, public companies, banks, real estate and oil and gas are left out. A company is placed in the state it gives as its principal place of business.
Which states U.S. private venture money goes to, from the notices companies file with the SEC when they sell equity. California raises the largest share by far; the chart shows whether money is pooling there or spreading out.
What this chart reads
- California's Share of U.S. Private Venture Money (SEC Form D, trailing four quarters)as “California”latest 2026-07-01
- New York's Share of U.S. Private Venture Money (SEC Form D, trailing four quarters)as “New York”latest 2026-07-01
- Massachusetts's Share of U.S. Private Venture Money (SEC Form D, trailing four quarters)as “Massachusetts”latest 2026-07-01
- Texas's Share of U.S. Private Venture Money (SEC Form D, trailing four quarters)as “Texas”latest 2026-07-01
- Florida's Share of U.S. Private Venture Money (SEC Form D, trailing four quarters)as “Florida”latest 2026-07-01
Sources
California's Share of U.S. Private Venture Money (SEC Form D, trailing four quarters). Source: Palanor calculation from SEC Form D filings (U.S. Securities and Exchange Commission, Form D data sets; public domain).
New York's Share of U.S. Private Venture Money (SEC Form D, trailing four quarters). Source: Palanor calculation from SEC Form D filings (U.S. Securities and Exchange Commission, Form D data sets; public domain).
Massachusetts's Share of U.S. Private Venture Money (SEC Form D, trailing four quarters). Source: Palanor calculation from SEC Form D filings (U.S. Securities and Exchange Commission, Form D data sets; public domain).
Texas's Share of U.S. Private Venture Money (SEC Form D, trailing four quarters). Source: Palanor calculation from SEC Form D filings (U.S. Securities and Exchange Commission, Form D data sets; public domain).
Florida's Share of U.S. Private Venture Money (SEC Form D, trailing four quarters). Source: Palanor calculation from SEC Form D filings (U.S. Securities and Exchange Commission, Form D data sets; public domain).
Charts are drawn from Palanor's signal library and recomputed from source data on every view. Transformations (changes, indexing, year-on-year rates) are Palanor's.