Equity capital contributed by family and friends when a company is set up, making it possible to launch the business by giving it the resources it needs to design, test and launch its concept/product/service before seeking funding from Venture capital firms and/or Business angels, if the company is successful. Generally, the amounts in question are a few tens or hundreds of thousands of euros.

For more details, see Chapter 40 Setting up a company or financing start-ups of the Vernimmen

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