Venture capital deals completed in the state of New York have steadily crept up to account for more than one-fifth of the VC deal activity in both New York and California—two of the most popular states for startups to call home—in 2012. VC investors have completed over 4,400 financings in the two states since the beginning of 2008. VC deals in New York have steadily increased in comparison to those in California every year, growing from about 12% of the yearly activity in the two states in 2008 to nearly 20% in 2010 and to over 21% so far this year. Back in 2008, a mere 129 VC deals closed in New York, compared to a giant 947 in California. Then, when venture capital investments plummeted in 2009, the deal count dropped for both states. However, New York was able to quickly recover—its VC deals shot up to 184 in 2010 and 239 last year. California, on the other hand, has yet to return to the balmy deal count it witnessed in 2008.