California last year attracted more venture capital than any other state, pulling in almost five times as much money as No. 2-ranked Massachusetts.

A new report from PricewaterhouseCoopers and the National Venture Capital Assn. said that California received more than half of the country’s $28 billion in 2011 venture capital investments.

The report was cited Thursday in a blog posted by Dennis Meyers, the principal economist of the California Department of Finance.

Nationally, venture capital investments increased 22% last year compared to 2010. California ventures got $14.5 billion, up 24% from the previous year. The bulk of the money went to Silicon Valley firms.


The infusion of funds was led by software companies, $6.7 billion in 2011. Biotech companies received $4.7 billion in the same period.

Here’s the state-by-state breakdown:

California $14.5 billion

Massachusetts $ 3 billion


New York $2.3 billion

Texas $1.5 billion

Illinois $0.7 billion

Colorado $0.6 billion


Virginia $0.6 billion

Washington $0.5 billion

New Jersey $0.5 billion

Pennsylvania $0.5 billion


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