Public policy and venture capital: the French experience since 1997

Abstract

The goal of this article is to analyse the public policies that have been set up in France since 1997, to promote venture capital. After having studied the academic literature on the topic, the authors will present a detailed analysis of all the French fiscal and regulatory tools (fiscal transparency of investment vehicles, tax exemptions for individuals, financial support for creation and innovation, direct public contribution to financing, etc.). The reader will then be able to realise that France now offers a comprehensive system for financing companies at every stage of their development.