This paper studies venture capital investment activity in the United States stratified by both locations and industries. Is geographical location an important factor to venture capital investment? Is industry classification important in explaining the amount of dollars invested in venture capital? This paper is motivated by the reemerging importance of economic geography, and the recognition that industrial location is fundamental to understanding the field of economic geography. The quarterly data are from the MoneyTree Survey, a regularly used source for the financial community. This study affirms that location and industry are important in explaining investment trends in venture capital.