2025’s Most Active Venture Capital Firms by State - by David Brown
At USInvestorData.com, we specialize in connecting founders with the right investors. Understanding which venture capital firms are most active in your state can significantly enhance your fundraising strategy. Below is a curated list of the most active VCs across various U.S. states in 2025.
California
Sequoia Capital
Location: Menlo Park, CA
Focus: Technology, healthcare, consumer
Notable Investments: Apple, Google, Airbnb
Sequoia remains a dominant force in Silicon Valley, backing industry-defining companies.
New York
Union Square Ventures
Location: New York, NY
Focus: Internet services, blockchain, fintech
Notable Investments: Twitter, Etsy, Coinbase
USV continues to be a significant player in the New York startup ecosystem.
Texas
Silverton Partners
Location: Austin, TX
Focus: SaaS, consumer, enterprise
Notable Investments: Aceable, The Zebra, AlertMedia
Silverton is known for its deep involvement in the Texas startup scene.
Massachusetts
Battery Ventures
Location: Boston, MA
Focus: Software, industrial tech, consumer
Notable Investments: Wayfair, Nutanix, Glassdoor
Battery Ventures has a strong presence in Boston, supporting a range of industries.
Florida
DeepWork Capital
Location: Orlando, FL
Focus: Early-stage tech companies
Notable Investments: Fattmerchant, Viewpost
DeepWork is instrumental in nurturing Florida’s tech startups.
Georgia
Tech Square Ventures
Location: Atlanta, GA
Focus: Enterprise, fintech, cybersecurity
Notable Investments: SalesLoft, Pindrop
Tech Square Ventures is a key player in Atlanta’s growing tech hub.
Illinois
Chicago Ventures
Location: Chicago, IL
Focus: B2B, consumer, healthcare
Notable Investments: SpotHero, G2, Cameo
Chicago Ventures actively supports Midwest startups with significant potential.
Colorado
Foundry Group
Location: Boulder, CO
Focus: Early-stage tech companies
Notable Investments: Fitbit, SendGrid, Zynga
Foundry Group is central to Colorado’s vibrant startup community.
Washington
Madrona Venture Group
Location: Seattle, WA
Focus: Cloud, AI, consumer tech
Notable Investments: Amazon, Smartsheet, Rover
Madrona continues to be a cornerstone of Seattle’s tech investments.
North Carolina
Bull City Venture Partners
Location: Durham, NC
Focus: Software, internet, healthcare
Notable Investments: Spoonflower, ChannelAdvisor
Bull City is pivotal in supporting startups in the Research Triangle.
South Carolina
SC Launch
Location: Columbia, SC
Focus: Early-stage technology companies
Notable Investments: ZVerse, KIYATEC
SC Launch plays a crucial role in fostering innovation within South Carolina.
Pennsylvania
First Round Capital
Location: Philadelphia, PA
Focus: Seed-stage tech companies
Notable Investments: Uber, Square, Warby Parker
First Round Capital is known for its hands-on approach with early-stage startups.
Ohio
Drive Capital
Location: Columbus, OH
Focus: Healthcare, fintech, enterprise
Notable Investments: Root Insurance, Olive, Duolingo
Drive Capital is instrumental in positioning Ohio as a startup-friendly state.
Michigan
Detroit Venture Partners
Location: Detroit, MI
Focus: Urban tech, mobility, fintech
Notable Investments: StockX, LevelEleven
Detroit Venture Partners is revitalizing Detroit through strategic investments.
Arizona
Tallwave Capital
Location: Scottsdale, AZ
Focus: SaaS, healthcare, consumer
Notable Investments: CampusLogic, Allbound
Tallwave supports Arizona’s growing tech landscape.
Utah
Kickstart Seed Fund
Location: Salt Lake City, UT
Focus: SaaS, consumer tech, edtech
Notable Investments: Lucidchart, Podium
Kickstart is a key player in Utah’s burgeoning startup ecosystem.
Oregon
Oregon Venture Fund
Location: Portland, OR
Focus: Technology, healthcare, consumer
Notable Investments: Puppet, Elemental Technologies
Oregon Venture Fund is central to funding innovation in Oregon.
Nevada
Reno Seed Fund
Location: Reno, NV
Focus: Early-stage startups
Notable Investments: Talage, Breadware
Reno Seed Fund is fostering entrepreneurship in Northern Nevada.
Louisiana
Innovation Catalyst
Location: Baton Rouge, LA
Focus: Early-stage ventures
Notable Investments: Waitr, CellControl
Innovation Catalyst supports Louisiana’s startup growth.
Minnesota
Matchstick Ventures
Location: Minneapolis, MN
Focus: SaaS, marketplace, consumer
Notable Investments: Branch, When I Work
Matchstick Ventures is active in the Twin Cities’ startup scene.
Missouri
Cultivation Capital
Location: St. Louis, MO
Focus: Life sciences, tech, agtech
Notable Investments: Benson Hill, Gainsight
Cultivation Capital is a significant investor in the Midwest.
Tennessee
Jumpstart Foundry
Location: Nashville, TN
Focus: Healthcare startups
Notable Investments: Axial Healthcare, InvisionHeart
Jumpstart Foundry specializes in healthcare innovation.
Indiana
High Alpha
Location: Indianapolis, IN
Focus: SaaS, enterprise software
Notable Investments: Lessonly, Zylo
High Alpha combines venture funding with startup studio expertise.
Wisconsin
Gener8tor
Location: Madison, WI
Focus: Accelerator for various industries
Notable Investments: EatStreet, Bright Cellars
Gener8tor runs accelerator programs supporting diverse startups.
Kentucky
Render Capital
Location: Louisville, KY
Focus: Early-stage startups
Notable Investments: FreshFry, WeatherCheck
Render Capital is dedicated to building a robust startup ecosystem in Kentucky.
Alabama
Alabama Futures Fund
Location: Birmingham, AL
Focus: Seed-stage technology companies
Notable Investments: Immediate, Fleetio
Alabama Futures Fund is committed to advancing tech startups in Alabama.
Arkansas
Winrock International’s Innovate Arkansas
Location: Little Rock, AR
Focus: Technology commercialization
Notable Investments: Apptegy, BOND.AI
Innovate Arkansas supports the growth of tech ventures in the state.
Mississippi
Innovate Mississippi
Location: Jackson, MS
Focus: Early-stage tech companies
Notable Investments: Fuse.Cloud, Glo
Innovate Mississippi is key to the state’s entrepreneurial development.
New Mexico
New Mexico Angels
Location: Albuquerque, NM
Focus: Early-stage investments
Notable Investments: OptiPulse, AgilVax
New Mexico Angels provide crucial funding to local startups.
North Dakota
Emerging Prairie
Location: Fargo, ND
Focus: Startup ecosystem development
Notable Investments: Bushel, Protosthetics
Emerging Prairie is central to North Dakota’s innovation efforts.
South Dakota
Falls Angel Fund
Location: Sioux Falls, SD
Focus: Seed-stage companies
Notable Investments: Well365, Prairie Aquatech
Falls Angel Fund supports early-stage ventures in South Dakota.
Alaska
49th State Angel Fund
Location: Anchorage, AK
Focus: High-growth startups
Notable Investments: Resource Data, Arctic Wire Rope
49th State Angel Fund is vital to Alaska’s startup funding landscape.
Hawaii
Hawaii Angels
Location: Honolulu, HI
Focus: Early-stage investments
Notable Investments: FloWater, Adnoviv
Hawaii Angels are active in supporting the state’s entrepreneurs.
Idaho
Boise Angel Alliance
Location: Boise, ID
Focus: Early-stage companies
Notable Investments: Cradlepoint, PlexTrac
Boise Angel Alliance is instrumental in Idaho’s startup growth.
Iowa
Next Level Ventures
Location: Des Moines, IA
Focus: Growth-stage companies
Notable Investments: Workiva, Dwolla
Next Level Ventures supports Iowa’s expanding tech sector.
Kansas
Mid-America Angels
Location: Overland Park, KS
Focus: Early-stage investments
Notable Investments: EyeVerify, Innara Health
Mid-America Angels are key players in Kansas’s startup ecosystem.
Maine
Maine Venture Fund
Location: Portland, ME
Focus: Growth-oriented companies
Notable Investments: Pika Energy, Cerahelix
Maine Venture Fund supports the state’s innovative businesses.
Montana
Frontier Angels
Location: Bozeman, MT
Focus: Early-stage startups
Notable Investments: onXmaps, Submittable
Frontier Angels are central to Montana’s entrepreneurial development.
Nebraska
Nebraska Angels
Location: Lincoln, NE
Focus: Early-stage investments
Notable Investments: Bulu, Opendorse
Nebraska Angels provide essential funding to local startups.
New Hampshire
Millworks Fund
Location: Manchester, NH
Focus: Early-stage companies
Notable Investments: PillPack, Dyn
Millworks Fund supports innovation in New Hampshire.