A new report’s findings show that Washington ranked 16th in the United States in attracting private equity investment in 2016, with $12.2 billion in capital investments supporting 15,551 jobs.

The ranking, from the American Investment Council’s “Private Equity: Top States and Districts in 2016” report, shows Washington moved up three spots on the capital investment list from 2015.

The state was also ranked 14th in terms of businesses backed by private equity, with 86 companies in the state receiving private equity support. There are approximately 50 private equity firms headquartered in Washington.

Overall, private equity firms invested over $645 billion in more than 3,765 U.S.-based companies last year. The state with the most private equity investment? Texas, with 413 companies receiving $79.89 billion through private equity. The Lone Star State edges California (522 companies receiving $77.16 billion) and Massachusetts (152 companies getting $76.69 billion) in private investments.