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Projets financés par Equity-Crowdfunding

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  • Stéphane Koffel

    (CEREFIGE - Centre Européen de Recherche en Economie Financière et Gestion des Entreprises - UL - Université de Lorraine)

Abstract

Cet article vise à déterminer les différents éléments de projets financés par Equity-Crowdfunding qui facilitent l'obtention de financements complémentaires par Capital-Investissement et/ou par Business Angels. En précisant les spécificités de l'Equity-Crowdfunding par rapport à d'autres modes de financement, nous cherchons à identifier les leviers permettant l'accès à des ressources financières externes. Par la construction d'une base de données unique regroupant un ensemble de projets financés en France, nous mettons en évidence plusieurs caractéristiques permettant cet accès. Le niveau de fonds levés à l'issue de la campagne, ainsi que la validation de celle-ci dans le cadre de projets où le contributeur peut également être un consommateur potentiel favorisent l'obtention de financements complémentaires dans certains cas. A contrario, le profil du fondateur, et la présence de Business Angels ou de sociétés de Capital-Investissement en amont de la campagne n'influent pas significativement sur cette possibilité d'accès. Ces résultats tendent à montrer que la mobilisation de la foule lors d'une campagne d'Equity-Crowdfunding a une influence sur la perception de la qualité du projet par des investisseurs potentiels, accroissant la légitimité de celui-ci par l'acceptation de ce projet par un grand nombre d'individus.

Suggested Citation

  • Stéphane Koffel, 2016. "Projets financés par Equity-Crowdfunding," Post-Print hal-03556011, HAL.
    • Handle: RePEc:hal:journl:hal-03556011
    Note: View the original document on HAL open archive server: https://hal.science/hal-03556011
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    File URL: https://hal.science/hal-03556011/document
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    References listed on IDEAS

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