Of the 502 VC financings raised in the Northeast region of the U.S. since the beginning of this year, New York currently leads the region with 34% of the deal activity, according to the PitchBook Platform. Massachusetts follows in dogged pursuit of the Empire State with a 33% share (just nine deals behind). But, deal count isn't everything—when it comes to capital, the empire has fallen to the Bay State. Massachusetts is already far ahead of New York for total capital raised in 2012. A formidable $1.87 billion in venture capital has been raised by MA-based companies so far this year. Despite their high deal count, NY-based companies have only raked in about half of that, netting $970 million.