Virginia Innovation Partnership Corp. (VIPC) today announced that the National Venture Capital Association (NVCA) reported Virginia attracted $2.9 billion in venture capital investment in 2025, marking an all-time high for the Commonwealth according to the 2025 Q4 Pitchbook-NVCA Venture Monitor Report.1
This record level of investment reflects the continued growth and momentum of Virginia’s startup ecosystem, with strong activity across key strategic sectors including national security and defense tech, cyber, AI, advanced air mobility, energy, and life sciences.
The milestone also coincides with Virgina being ranked in 2025 – for the first time ever – as a Top 10 State for “Technology & Innovation” by CNBC in its annual America’s Top State for Business national rankings.2
“VIPC’s mission is to grow Virginia innovation ecosystems that connect talent, capital, and opportunity and empower founders and entrepreneurs to launch, grow, and thrive in the Commonwealth,” said Joe Benevento, President and CEO of VIPC. “It’s a testament to see record out-of-state investment flowing into Virginia startups and positioning Virginia at the forefront of innovation.”
According to NVCA, Virginia has attracted more than $7 billion in venture capital investment over the past three years, with Virginia’s average national ranking rising to #11 during this period (2023-2025) compared with #17 averaged during the previous five-year period (2018-2022).
NVCA reported that the $2.9 billion invested in Virginia startups in 2025 is nearly double the annual total from five years ago and ranks Virginia ahead of neighboring states including North Carolina, Maryland, New Jersey, Georgia, and Tennessee in the Mid-Atlantic/Southeast, as well as Illinois, Michigan, Ohio, Minnesota, and Indiana in the Midwest.
“Virginia is a rising leader in the venture capital industry,” said Bobby Franklin, President and CEO of NVCA. “In the five years since VIPC’s founding, venture investment into Virginia has nearly doubled, and they’ve been a powerful catalyst behind that change. The work they’re doing to make Virginia a destination for founders, funders, and talent is remarkable. We’re proud to recognize their accomplishments as they propel the development of Virginia’s innovation economy.”
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