Apprentissage collaboratif et réseaux d'investisseurs en capital-risque

Abstract

Venture capital investment induces an appraisal of uncertainty. This evaluation is based on tacit and informal information. Social ties are an important way to gather this kind of information. The contractual relation of investment is the formal condition to induce an informal collaborating learning process to create social ties between the entrepreneur and his investors. Investors use the legal framework of syndications to organize informal, reciprocal and deferred exchanges of resources that follow the gift exchange's principles. © Lavoisier.