Résumé:
"The appearance of this kind of companies, Venture capital firms represent an
alternative of the project’s funding unlike traditional banks.
These firms support the greatestrisk, which permits the existence of projects that
can never exist without this kind of companies, knowing that the legislator had
reason when he introduced this kind of firms to finance emerging projects under
the law 06-11 .
In this study, we have preceded to the exposure of different historical and
legal facets of these companies, also to the conception of their financial
technical, real causes of their creation, the distinction between them and the
traditional methods of financing.
With approach to the question of their establishment and the differentiation
between venture capital firms and the SPA, with its submission to anterior and
posterior control with giving details about sentences adopted by this company to
arrive to the decision of granting the funding for the project discussed; by
exposing different strategies adopted byventure capital firms and mechanisms
of activation so that they can play the pivotal role,in order to enable them to
reduce obstacles that confrontthe launch of investment projects and their
impact on the economic development, however these companies are actually
recent in Algeria and remain feeble, this is why the government should furnish
more efforts of reformfor the investment’s climate in a general manner.
Because of their specific nature to support risks beyond the average
permitted by processes of funding represented specially by banks, it is also a
state’s duty to present them to investors with keeping them under control to
adjust their sensible activity to preserve the general interest and the realization
of the principle objective of their creation with taking into consideration
challenges that the economy confront and its local and international
development in the shadow of competition to get the best.
Showing the efficiency of this kind of companies in developed countries
because they have contributed to the creation and the financing of multitude of
emerging projects that have been developed to huge projects that occupythe
leadership internationally.
Algeria must do the same to realize the objectives aimed and especially after
the difficulty of implementation of traditional means in this field."
