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Despite the fact that the state is constantly teetering on the brink of bankruptcy, California remains at the top of the venture capital heap churning out the most deals with the most dollar volume in the second quarter of 2010.

A new report from private company research firm CB Insights reveals that California companies took more than 50 percent of total venture dollars in the second quarter with financings breaking the $3 billion funding mark and more than half of those funds going toward health care and Internet companies. In addition to California, two other states--Massachusetts and New York--accounted for 70 percent of the total venture funding pool, an 11 percent increase over last year.

California leads in VC dollars

To read the full, original article click on this link: Want venture capital? Come to California | Software, Interrupted - CNET News

Author: Dave Rosenberg