{"id":992524,"date":"2025-11-29T07:50:18","date_gmt":"2025-11-29T07:50:18","guid":{"rendered":"https:\/\/capiwell.ch\/?page_id=992524"},"modified":"2026-01-24T10:39:12","modified_gmt":"2026-01-24T10:39:12","slug":"investir-dans-les-startups-de-croissance-et-les-spin-offs-universitaires-suisses-un-guide-complet","status":"publish","type":"page","link":"https:\/\/capiwell.ch\/fr\/perspectives\/investir-dans-les-startups-de-croissance-et-les-spin-offs-universitaires-suisses-un-guide-complet\/","title":{"rendered":"Les cr\u00e9ateurs d'\u00e9lan : Startups en phase de croissance"},"content":{"rendered":"<div data-elementor-type=\"wp-page\" data-elementor-id=\"992524\" class=\"elementor elementor-992524\" data-elementor-post-type=\"page\">\n\t\t\t\t<div class=\"elementor-element elementor-element-85c7a38 e-flex e-con-boxed e-con e-child\" data-id=\"85c7a38\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t<div class=\"elementor-element elementor-element-2e54859 e-con-full e-flex e-con e-child\" data-id=\"2e54859\" data-element_type=\"container\" data-e-type=\"container\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t<div class=\"elementor-element elementor-element-90824ed elementor-invisible e-con-full blur-background animated-fast e-flex e-con e-child\" data-id=\"90824ed\" data-element_type=\"container\" data-e-type=\"container\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;,&quot;sticky&quot;:&quot;bottom&quot;,&quot;sticky_on&quot;:[&quot;desktop&quot;],&quot;sticky_offset&quot;:60,&quot;sticky_parent&quot;:&quot;yes&quot;,&quot;animation&quot;:&quot;fadeIn&quot;,&quot;sticky_effects_offset&quot;:0,&quot;sticky_anchor_link_offset&quot;:0}\">\n\t\t\t\t<div class=\"elementor-element elementor-element-f8160c7 elementor-widget elementor-widget-heading\" data-id=\"f8160c7\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Guide d'Investissement dans les startups en croissance<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-5975f7e e-con-full e-flex e-con e-child\" data-id=\"5975f7e\" data-element_type=\"container\" data-e-type=\"container\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t<div class=\"elementor-element elementor-element-a9e8adb e-con-full e-flex e-con e-child\" data-id=\"a9e8adb\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-9ac458d elementor-invisible animated-fast elementor-widget elementor-widget-heading\" data-id=\"9ac458d\" data-element_type=\"widget\" data-e-type=\"widget\" data-settings=\"{&quot;_animation&quot;:&quot;slideInUp&quot;,&quot;_animation_delay&quot;:50}\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\">Comprendre la sc\u00e8ne suisse des startups et rep\u00e9rer les opportunit\u00e9s<\/h3>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-bf334f1 e-con-full e-flex e-con e-child\" data-id=\"bf334f1\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-d487b3e elementor-widget elementor-widget-text-editor\" data-id=\"d487b3e\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<ul><li><p>Comment les diff\u00e9rents p\u00f4les d'innovation de la Suisse cr\u00e9ent des micro-march\u00e9s distincts pour les startups en phase de croissance et fa\u00e7onnent la structure de leurs fonds propres ?<\/p><\/li><li><p>Pourquoi les r\u00e8gles suisses en mati\u00e8re de crowd-investing et de propri\u00e9t\u00e9 sont-elles importantes (et comment les investisseurs exp\u00e9riment\u00e9s s'y retrouvent) ?<\/p><\/li><li><p>O\u00f9 va l'argent le plus malin dans les secteurs les plus innovants du pays - de la deep-tech \u00e0 la biotechnologie en passant par les technologies du climat ?<\/p><\/li><li><p>Qu'est-ce qui fait que certaines entreprises \u00e0 grande \u00e9chelle prosp\u00e8rent alors que d'autres s'enlisent dans des probl\u00e8mes de r\u00e9glementation, de gouvernance ou de structure des capitaux propres ?<\/p><\/li><li><p>Comment les nouvelles voies d'investissement, du crowd-investing aux actions tokenis\u00e9es, ouvrent des voies pratiques pour construire un portefeuille sur un march\u00e9 autrefois ferm\u00e9 \u00e0 la plupart des investisseurs.<\/p><\/li><\/ul>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-b573bd0 e-flex e-con-boxed e-con e-parent\" data-id=\"b573bd0\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t<div class=\"elementor-element elementor-element-973f7e4 e-con-full e-flex e-con e-child\" data-id=\"973f7e4\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t<div class=\"elementor-element elementor-element-cd6dedd e-con-full e-flex e-con e-child\" data-id=\"cd6dedd\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t<div class=\"vamtam-has-theme-widget-styles elementor-element elementor-element-6fe482e vamtam-has-icon-theme-styles elementor-widget elementor-widget-n-accordion\" data-id=\"6fe482e\" data-element_type=\"widget\" data-e-type=\"widget\" data-settings=\"{&quot;default_state&quot;:&quot;expanded&quot;,&quot;max_items_expended&quot;:&quot;one&quot;,&quot;n_accordion_animation_duration&quot;:{&quot;unit&quot;:&quot;ms&quot;,&quot;size&quot;:400,&quot;sizes&quot;:[]}}\" data-widget_type=\"nested-accordion.default\">\n\t\t\t\t\t\t\t<div class=\"e-n-accordion\" aria-label=\"Accord\u00e9on. Ouvrez les liens avec Enter ou Space, fermez-les avec Escape et naviguez avec les touches fl\u00e9ch\u00e9es.\">\n\t\t\t\t\t\t<details id=\"e-n-accordion-item-1170\" class=\"e-n-accordion-item\" open>\n\t\t\t\t<summary class=\"e-n-accordion-item-title\" data-accordion-index=\"1\" tabindex=\"0\" aria-expanded=\"true\" aria-controls=\"e-n-accordion-item-1170\" >\n\t\t\t\t\t<span class='e-n-accordion-item-title-header'><div class=\"e-n-accordion-item-title-text\"> Table des mati\u00e8res <\/div><\/span>\n\t\t\t\t\t\t\t<span class='e-n-accordion-item-title-icon'>\n\t\t\t<span class='e-opened' ><i aria-hidden=\"true\" class=\"vamtamtheme- vamtam-theme-arrow-up\"><\/i><\/span>\n\t\t\t<span class='e-closed'><i aria-hidden=\"true\" class=\"vamtamtheme- vamtam-theme-arrow-dawn\"><\/i><\/span>\n\t\t<\/span>\n\n\t\t\t\t\t\t<\/summary>\n\t\t\t\t<div role=\"region\" aria-labelledby=\"e-n-accordion-item-1170\" class=\"elementor-element elementor-element-177515d e-con-full e-flex e-con e-child\" data-id=\"177515d\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-d41201c elementor-widget elementor-widget-text-editor\" data-id=\"d41201c\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<ol><li><a href=\"#1\">Qu'est-ce qu'une action de startup en phase de croissance ?<br \/><\/a><\/li><li><a href=\"#2\">Comprendre les fonds propres d'une startup : Les bases<\/a><\/li><li><a href=\"#3\">Les r\u00e8gles suisses en mati\u00e8re de crowdinvesting<br \/><\/a><\/li><li><a href=\"#4\">Comment v\u00e9rifier les opportunit\u00e9s<br \/><\/a><\/li><li><a href=\"#5\">Construire son portefeuille (Strat\u00e9gie d'investissement)<br \/><\/a><\/li><li><a href=\"#6\">L'innovation en Suisse : O\u00f9 investir ?<br \/><\/a><\/li><li><a href=\"#7\">\u00c9tapes pratiques : Sorties et risques<br \/><\/a><\/li><\/ol>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/details>\n\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-1d48d1f e-flex e-con-boxed e-con e-parent\" data-id=\"1d48d1f\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-0f96068 elementor-widget elementor-widget-text-editor\" data-id=\"0f96068\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p><span style=\"font-weight: 400;\">Notre pays est class\u00e9 meilleur pays pour l'innovation pour la 14e ann\u00e9e. Deux grandes universit\u00e9s, l'ETH Zurich et l'EPFL Lausanne, figurent parmi les meilleures d'Europe pour la cr\u00e9ation d'entreprises de deep tech de grande valeur. En 2024, les startups suisses ont lev\u00e9 2,4 milliards de francs suisses. Les technologies profondes ont re\u00e7u 60% de tous les investissements des startups suisses, ce qui repr\u00e9sente la part la plus \u00e9lev\u00e9e au monde.<\/span><\/p><p><span style=\"font-weight: 400;\">Pour les investisseurs de Zurich, Gen\u00e8ve et Lausanne, cet environnement cr\u00e9e des opportunit\u00e9s particuli\u00e8res d'investir dans l'innovation suisse.<\/span><\/p><ul><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Les entreprises en phase de croissance sont des entreprises qui ont prouv\u00e9 que leur activit\u00e9 fonctionne et qui gagnent maintenant de l'argent. Elles sont moins risqu\u00e9es que les entreprises en phase d'amor\u00e7age (tr\u00e8s pr\u00e9coce).<\/span><\/li><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Les spin-offs acad\u00e9miques (nouvelles entreprises cr\u00e9\u00e9es par des universit\u00e9s comme l'ETH et l'EPFL) apportent des ann\u00e9es de preuves de recherche, m\u00eame si elles ne vendent rien pour l'instant.<\/span><\/li><\/ul><p><span style=\"font-weight: 400;\">Ce guide explique comment trouver et investir dans ces entreprises suisses qui ont fait leurs preuves, par le biais de l'equity crowdinvesting ou de transactions directes.<\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-7ce1cc5 e-flex e-con-boxed e-con e-parent\" data-id=\"7ce1cc5\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-2a2d1d7 elementor-widget elementor-widget-heading\" data-id=\"2a2d1d7\" data-element_type=\"widget\" data-e-type=\"widget\" id=\"1\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Qu'est-ce que les <span class=\"color-accent-4\">actions d'une startup en phase de croissance ?<\/span>\n<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-e2b0591 elementor-widget elementor-widget-text-editor\" data-id=\"e2b0591\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p><span style=\"font-weight: 400;\">Les actions de startups en phase de croissance signifient que vous poss\u00e9dez une partie d'une entreprise qui a d\u00e9pass\u00e9 le stade de l'id\u00e9e.<\/span><\/p><ul><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Ces entreprises ont un mod\u00e8le commercial \u00e9prouv\u00e9 et des clients payants.<\/span><\/li><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Elles d\u00e9veloppent leurs activit\u00e9s (scaling).<\/span><\/li><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Elles obtiennent souvent un financement de s\u00e9rie A ou de s\u00e9rie B. Elles ont besoin de 500 000 CHF \u00e0 5 millions CHF pour se d\u00e9velopper rapidement.<\/span><\/li><\/ul><p><span style=\"font-weight: 400;\">La phase de croissance est diff\u00e9rente de la phase d'amor\u00e7age. Les entreprises en phase d'amor\u00e7age sont encore en train de tester si leur id\u00e9e va fonctionner. Les entreprises en croissance savent que leur mod\u00e8le fonctionne et se concentrent sur la rapidit\u00e9 de leur croissance. La question principale n'est plus : \u201cCela va-t-il fonctionner ?\u201d, mais \u201c\u00c0 quelle vitesse pouvons-nous le faire grossir ?\u201d.\u201d<\/span><\/p><h4><span style=\"font-weight: 400;\">Preuve universitaire<\/span><\/h4><p><span style=\"font-weight: 400;\">Les spin-offs universitaires de l'ETH Zurich et de l'EPFL suivent un chemin similaire. Elles n'ont peut-\u00eatre pas encore de chiffre d'affaires, mais elles ont quelque chose que les autres entreprises n'ont pas : la preuve universitaire.<\/span><\/p><ul><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Des ann\u00e9es de recherche scientifique, des brevets et l'approbation officielle des universit\u00e9s t\u00e9moignent de leur force technique.<\/span><\/li><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Exemple : Une spin-off biotechnologique de l'EPFL n'a peut-\u00eatre pas de clients, mais si elle b\u00e9n\u00e9ficie d'un soutien scientifique solide, l'innovation est prouv\u00e9e. Il ne s'agit pas d'une supposition.<\/span><\/li><\/ul><h4><span style=\"font-weight: 400;\">Acc\u00e8s au crowdinvesting<\/span><\/h4><p><span style=\"font-weight: 400;\">Le march\u00e9 suisse du crowdinvesting en actions atteindra 25 millions de francs suisses en 2024.<\/span><\/p><p><span style=\"font-weight: 400;\">Quelques plateformes, comme CapiWell, se concentrent uniquement sur les opportunit\u00e9s prouv\u00e9es : les entreprises en phase de croissance et les spin-offs acad\u00e9miques valid\u00e9es. Elles \u00e9vitent les entreprises tr\u00e8s pr\u00e9coces qui n'ont pas encore fait leurs preuves. Leur id\u00e9e est simple : la preuve r\u00e9duit le risque. Cette approche ne permet pas de r\u00e9aliser des profits \u00e9lev\u00e9s, mais offre de meilleures chances de r\u00e9ussite.<\/span><\/p><p><span style=\"font-weight: 400;\">Pour les investisseurs, les actions de croissance constituent un moyen structur\u00e9 d'investir. Elles vous permettent d'\u00e9viter les taux d'\u00e9chec \u00e9lev\u00e9s des entreprises en phase d'amor\u00e7age.<\/span><\/p><p><span style=\"font-weight: 400;\">De bonnes chances de survie : environ 65% des startups de s\u00e9rie A atteignent la s\u00e9rie B. Pour les spin-offs de l'ETH, 93% sont toujours en activit\u00e9 apr\u00e8s cinq ans, contre 50% pour les startups g\u00e9n\u00e9rales.<\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-79a2a52 e-flex e-con-boxed e-con e-parent\" data-id=\"79a2a52\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-7663280 elementor-widget elementor-widget-heading\" data-id=\"7663280\" data-element_type=\"widget\" data-e-type=\"widget\" id=\"2\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Comprendre les fonds propres des startups :  <span class=\"color-accent-4\">les bases<\/span>\n<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-3905a66 elementor-widget elementor-widget-text-editor\" data-id=\"3905a66\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p><span style=\"font-weight: 400;\">Avant d'investir, vous devez comprendre ce que vous achetez. La propri\u00e9t\u00e9 d'une startup se pr\u00e9sente sous diff\u00e9rentes formes, chacune avec ses propres droits.<\/span><\/p><ul><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Les actions signifient que vous poss\u00e9dez une partie de la soci\u00e9t\u00e9. Votre pourcentage de participation d\u00e9termine le montant que vous recevrez en cas de vente ou d'introduction en bourse de l'entreprise.<\/span><\/li><\/ul><h4><span style=\"font-weight: 400;\">Actions ordinaires et actions privil\u00e9gi\u00e9es<\/span><\/h4><p><span style=\"font-weight: 400;\">C'est la diff\u00e9rence la plus importante :<\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-9e348fa elementor-widget elementor-widget-shortcode\" data-id=\"9e348fa\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"shortcode.default\">\n\t\t\t\t\t\t\t<div class=\"elementor-shortcode\"><div class=\"capiwell-table-wrap\">\n  <table class=\"capiwell-table\" role=\"table\" aria-label=\"Types d&#039;actions et protection des investisseurs\">\n    <thead>\n      <tr>\n        <th scope=\"col\">Type d'action<\/th>\n        <th scope=\"col\">Qui les d\u00e9tient habituellement<\/th>\n        <th scope=\"col\">Protection des investisseurs<\/th>\n      <\/tr>\n    <\/thead>\n\n    <tbody>\n      <tr>\n        <td data-label=\"Share Type\">Actions ordinaires<\/td>\n        <td data-label=\"Who Usually Holds Them\">Fondateurs, employ\u00e9s<\/td>\n        <td data-label=\"Investor Protection\">Ils sont pay\u00e9s apr\u00e8s les actionnaires privil\u00e9gi\u00e9s.<\/td>\n      <\/tr>\n\n      <tr>\n        <td data-label=\"Share Type\">Actions privil\u00e9gi\u00e9es<\/td>\n        <td data-label=\"Who Usually Holds Them\">Investisseurs : exemples<\/td>\n        <td data-label=\"Investor Protection\">Pr\u00e9f\u00e9rence de liquidation : En cas de vente de l'entreprise, les investisseurs sont les premiers \u00e0 r\u00e9cup\u00e9rer l'argent qu'ils ont investi.<\/td>\n      <\/tr>\n    <\/tbody>\n  <\/table>\n<\/div><\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-aacdf2a elementor-widget elementor-widget-text-editor\" data-id=\"aacdf2a\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p><span style=\"font-weight: 400;\"><strong>Exemple :<\/strong> Une entreprise l\u00e8ve 5 millions de francs suisses aupr\u00e8s d'investisseurs pour 20% de l'entreprise (actions privil\u00e9gi\u00e9es). Si la soci\u00e9t\u00e9 est vendue pour 8 millions de francs, les actionnaires privil\u00e9gi\u00e9s re\u00e7oivent d'abord leurs 5 millions de francs. Les actionnaires ordinaires se partagent les 3 millions restants.<\/span><\/p><p><span style=\"font-weight: 400;\">\u2192 <a href=\"https:\/\/capiwell.ch\/a-quick-guide-to-startup-equity-understanding-shares-options-and-ownership\/\">En savoir plus : Un guide complet sur les fonds propres des startups : Comprendre les actions, les options et la propri\u00e9t\u00e9<\/a><\/span><\/p><h4><span style=\"font-weight: 400;\">Options sur actions et acquisition des droits<\/span><\/h4><ul><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Les options sur actions ne sont pas des actions. Elles donnent le droit d'acheter des actions \u00e0 un prix fixe \u00e0 l'avenir. Les salari\u00e9s re\u00e7oivent souvent ces options dans le cadre de leur r\u00e9mun\u00e9ration.<\/span><\/li><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">L'acquisition des droits fixe une date \u00e0 laquelle le capital est r\u00e9ellement acquis. Il d\u00e9pend du maintien du salari\u00e9 dans l'entreprise.<br \/><\/span><span style=\"font-weight: 400;\">Le plan suisse typique est d'une dur\u00e9e de quatre ans avec une ann\u00e9e d'interruption. Cela signifie que rien n'est gagn\u00e9 pendant la premi\u00e8re ann\u00e9e (le \u201ccliff\u201d). Apr\u00e8s 12 mois, 25% sont acquis imm\u00e9diatement. Le reste est acquis mensuellement au cours des trois ann\u00e9es suivantes. Cela prot\u00e8ge l'entreprise en cas de d\u00e9part rapide d'un employ\u00e9.<\/span><\/li><\/ul><ul><\/ul><p><a href=\"https:\/\/capiwell.ch\/understanding-vesting-how-1-year-cliffs-and-4-year-schedules-impact-your-startup-equity\/\"><span style=\"font-weight: 400;\">\u2192 En savoir plus : Comprendre l'acquisition des droits : Comment les plafonds d'un an et les calendriers de quatre ans influencent vos capitaux propres<\/span><\/a><\/p><p><a href=\"https:\/\/capiwell.ch\/employee-stock-options-esos-explained-a-swiss-guide\/\"><span style=\"font-weight: 400;\">\u2192 En savoir plus : Les options d'achat d'actions pour les employ\u00e9s (ESO) expliqu\u00e9es : Guide de l'employ\u00e9 suisse<\/span><\/a><\/p><h4><span style=\"font-weight: 400;\">Tableaux de capitalisation (Cap Tables)<\/span><\/h4><p><span style=\"font-weight: 400;\">Un tableau de capitalisation (Cap Table) permet de suivre toutes les donn\u00e9es relatives \u00e0 la propri\u00e9t\u00e9. Pour vous, l'investisseur, il indique :<\/span><\/p><ul><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Qui poss\u00e8de quoi (la structure).<\/span><\/li><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Historique de la dilution (combien votre part a \u00e9t\u00e9 r\u00e9duite par de nouveaux investisseurs).<\/span><\/li><\/ul><p><span style=\"font-weight: 400;\">Un tableau de capitalisation clair montre que l'entreprise est bien g\u00e9r\u00e9e. Il faut s'attendre \u00e0 ce que les fondateurs d\u00e9tiennent encore plus de 50% apr\u00e8s la s\u00e9rie A.<\/span><\/p><p><a href=\"https:\/\/capiwell.ch\/what-is-a-cap-table-an-essential-guide-for-swiss-founders-and-investors\/\"><span style=\"font-weight: 400;\">\u2192 En savoir plus : Qu'est-ce qu'un Cap Table ? Un guide essentiel pour les fondateurs et les investisseurs suisses<\/span><\/a><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-79154d9 e-flex e-con-boxed e-con e-parent\" data-id=\"79154d9\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-53cd8e5 elementor-widget elementor-widget-heading\" data-id=\"53cd8e5\" data-element_type=\"widget\" data-e-type=\"widget\" id=\"3\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">La Suisse <span class=\"color-accent-4\">et ses r\u00e8gles du crowdinvesting<\/span>\n<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-d63519f elementor-widget elementor-widget-text-editor\" data-id=\"d63519f\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p><span style=\"font-weight: 400;\">L'equity crowdinvesting suisse doit respecter les r\u00e8gles en vigueur sur les march\u00e9s financiers, principalement la loi sur les services financiers (LSFin).<\/span><\/p><ul><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Les plateformes mettent en relation les investisseurs et les entreprises. En Suisse, les plateformes envoient g\u00e9n\u00e9ralement votre argent directement \u00e0 l'entreprise.<\/span><\/li><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Ils doivent respecter les r\u00e8gles visant \u00e0 pr\u00e9venir le blanchiment d'argent (AMLA).<\/span><\/li><\/ul><h4><span style=\"font-weight: 400;\">\u00c9viter la paperasserie<\/span><\/h4><p><span style=\"font-weight: 400;\">La plupart des campagnes de crowdinvesting peuvent se passer des co\u00fbteux prospectus officiels. C'est le cas si<\/span><\/p><ol><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Elles collectent moins de 8 millions de francs suisses sur une p\u00e9riode de 12 mois.<\/span><\/li><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Ils vendent \u00e0 moins de 500 investisseurs qui ne sont pas \u201cqualifi\u00e9s\u201d (non professionnels).<\/span><\/li><\/ol><p><a href=\"https:\/\/capiwell.ch\/how-equity-crowdinvesting-works-in-switzerland-a-complete-guide-for-non-professional-investors\/\"><span style=\"font-weight: 400;\">\u2192 En savoir plus : Comment fonctionne l'Equity CrowdInvesting en Suisse : Un guide complet pour les investisseurs non professionnels<\/span><\/a><\/p><p><a href=\"https:\/\/capiwell.ch\/swiss-crowdinvesting-a-regulatory-guide-for-capital-seekers-and-investors\/\"><span style=\"font-weight: 400;\">\u2192 En savoir plus : SO-FIT et le CrowdInvesting suisse : Un guide r\u00e9glementaire pour les chercheurs de capitaux et les investisseurs<\/span><\/a><\/p><h4><span style=\"font-weight: 400;\">Le compromis de la focalisation<\/span><\/h4><p><span style=\"font-weight: 400;\">Les plateformes qui se concentrent sur les entreprises en phase de croissance ont des r\u00e8gles plus strictes pour l'entr\u00e9e des entreprises. Les entreprises doivent d\u00e9montrer<\/span><\/p><ul><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Recettes (ventes).<\/span><\/li><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Des mod\u00e8les d'entreprise \u00e9prouv\u00e9s.<\/span><\/li><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Une voie claire vers la rentabilit\u00e9.<\/span><\/li><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Les spin-offs acad\u00e9miques doivent b\u00e9n\u00e9ficier du soutien officiel de l'universit\u00e9.<\/span><\/li><\/ul><p><span style=\"font-weight: 400;\">Cette s\u00e9lectivit\u00e9 vous permet de r\u00e9duire le risque technique. Cependant, cela signifie \u00e9galement que vous pourriez obtenir des multiples de rendement inf\u00e9rieurs.<\/span><\/p><ul><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Les investisseurs en phase d'amor\u00e7age visent un retour sur investissement de 100 fois sup\u00e9rieur \u00e0 celui de leurs gagnants.<\/span><\/li><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Les investisseurs en phase de croissance visent g\u00e9n\u00e9ralement des rendements de 10 \u00e0 15 fois sup\u00e9rieurs.<\/span><\/li><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Vous \u00e9changez l'extr\u00eame possibilit\u00e9 d'un \u00e9norme retour sur investissement contre une bien meilleure chance de survie.<\/span><\/li><\/ul>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-f2dface e-flex e-con-boxed e-con e-parent\" data-id=\"f2dface\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-164a123 elementor-widget elementor-widget-heading\" data-id=\"164a123\" data-element_type=\"widget\" data-e-type=\"widget\" id=\"4\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Comment v\u00e9rifier <span class=\"color-accent-4\">les opportunit\u00e9s<\/span>\n<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-36a7b5a elementor-widget elementor-widget-text-editor\" data-id=\"36a7b5a\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p><span style=\"font-weight: 400;\">L'examen des entreprises en phase de croissance n\u00e9cessite de v\u00e9rifier diff\u00e9rents \u00e9l\u00e9ments. La question principale est d\u00e9sormais la suivante : \u201c\u00c0 quelle vitesse peuvent-elles cro\u00eetre ?\u201d et non plus \u201cPeuvent-elles construire le produit ?\u201d.\u201d<\/span><\/p><h4><span style=\"font-weight: 400;\">Liste de contr\u00f4le de la diligence raisonnable<\/span><\/h4>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-548880e elementor-widget elementor-widget-shortcode\" data-id=\"548880e\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"shortcode.default\">\n\t\t\t\t\t\t\t<div class=\"elementor-shortcode\"><div class=\"capiwell-table-wrap\">\n  <table class=\"capiwell-table\" role=\"table\" aria-label=\"Types d&#039;actions et protection des investisseurs\">\n    <thead>\n      <tr>\n        <th scope=\"col\">Type d'entreprise<\/th>\n        <th scope=\"col\">Ce qu'il faut v\u00e9rifier (preuves)<\/th>\n      <\/tr>\n    <\/thead>\n\n    <tbody>\n      <tr>\n        <td data-label=\"Share Type\">G\u00e9n\u00e9rer des recettes<\/td>\n        <td data-label=\"Who Usually Holds Them\">Preuve de march\u00e9 : Ventes r\u00e9elles r\u00e9alis\u00e9es par des clients qui ne sont pas li\u00e9s aux fondateurs. Un chiffre d'affaires annuel de 1 \u00e0 5 millions de francs suisses est un objectif courant pour la s\u00e9rie A.<\/td>\n      <\/tr>\n\n      <tr>\n        <td data-label=\"Share Type\">Investir dans les spin-offs acad\u00e9miques<\/td>\n        <td data-label=\"Who Usually Holds Them\">Preuve technique : Liens officiels avec l'universit\u00e9 (comme l'ETH\/EPFL). Ils v\u00e9rifient les brevets (IP) de l'entreprise et contr\u00f4lent le potentiel du march\u00e9.<\/td>\n       \n      <\/tr>\n    <\/tbody>\n  <\/table>\n<\/div><\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-63ba474 elementor-widget elementor-widget-text-editor\" data-id=\"63ba474\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p><span style=\"font-weight: 400;\"><strong>Programmes de preuve<\/strong>: Les bourses comme Innosuisse ou ETH Pioneer Fellowship sont un excellent signe. Ces programmes donnent de l'argent (CHF 100k-150k) et n'acceptent que les 10-15% meilleures candidatures.<\/span><\/p><p><span style=\"font-weight: 400;\"><strong>L'\u00e9quipe<\/strong>: Une bonne \u00e9quipe \u00e9quilibre les experts scientifiques et l'exp\u00e9rience commerciale. \u00c0 ce stade, ils ont besoin d'un plan clair pour s'adjoindre des chefs d'entreprise capables de g\u00e9rer la croissance.<\/span><\/p><p><span style=\"font-weight: 400;\"><strong>Sant\u00e9 financi\u00e8re<\/strong>: V\u00e9rifiez les donn\u00e9es financi\u00e8res de l'entreprise :<\/span><\/p><ul><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Le taux d'absorption (la vitesse \u00e0 laquelle ils d\u00e9pensent les liquidit\u00e9s) par rapport \u00e0 la croissance des ventes.<\/span><\/li><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Le taux d'attrition des clients (combien de clients cessent d'utiliser le produit). Un taux d'attrition \u00e9lev\u00e9 est synonyme de probl\u00e8mes li\u00e9s au produit.<\/span><\/li><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">La voie \u00e0 suivre pour r\u00e9aliser des b\u00e9n\u00e9fices doit \u00eatre claire et r\u00e9aliste.<\/span><\/li><\/ul><p><a href=\"https:\/\/capiwell.ch\/evaluating-swiss-deep-tech-startups-a-framework-for-private-investors\/\"><span style=\"font-weight: 400;\">\u2192 En savoir plus : \u00c9valuer les startups suisses de la Deep Tech : Un cadre de diligence raisonnable pour les investisseurs priv\u00e9s<\/span><\/a><\/p><h4><span style=\"font-weight: 400;\">\u00c9valuation : Combien vaut-il ?<\/span><\/h4><p><span style=\"font-weight: 400;\">Les entreprises en phase de croissance peuvent utiliser des m\u00e9thodes fond\u00e9es sur des chiffres, ce qui n'est pas le cas des entreprises en phase d'amor\u00e7age.<\/span><\/p><ol><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">La m\u00e9thode VC : Cette m\u00e9thode part du chiffre d'affaires escompt\u00e9 au moment de la vente de l'entreprise (sortie).<br \/><\/span><span style=\"font-weight: 400;\"><strong>Exemple<\/strong>: Si une entreprise pr\u00e9voit un chiffre d'affaires de 20 millions de francs suisses au cours de la septi\u00e8me ann\u00e9e, et que des entreprises similaires vendent pour 5 fois leur chiffre d'affaires, la valeur de sortie est de 100 millions de francs suisses. Si vous souhaitez un rendement de 10 fois, la valeur de l'entreprise apr\u00e8s votre investissement ne doit pas d\u00e9passer 10 millions de francs.<\/span><\/li><\/ol><ul><\/ul><ol><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Op\u00e9rations comparables : Comparez l'entreprise aux r\u00e9cents cycles de financement d'entreprises similaires en Suisse.<\/span><\/li><\/ol><p><span style=\"font-weight: 400;\">Normes suisses : Les op\u00e9rations men\u00e9es par des investisseurs providentiels ne valorisent g\u00e9n\u00e9ralement pas l'entreprise \u00e0 plus de 8 millions de francs suisses avant l'investissement. Les fondateurs c\u00e8dent g\u00e9n\u00e9ralement 10% \u00e0 20% de l'entreprise lors d'un tour de table de s\u00e9rie A.<\/span><\/p><p><a href=\"https:\/\/capiwell.ch\/swiss-startup-valuation-methods-from-seed-stage-to-series-a\/\"><span style=\"font-weight: 400;\">\u2192 En savoir plus : M\u00e9thodes d'\u00e9valuation des startups suisses : De l'amor\u00e7age \u00e0 la s\u00e9rie A<\/span><\/a><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-d8018fe e-flex e-con-boxed e-con e-parent\" data-id=\"d8018fe\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-29e8177 elementor-widget elementor-widget-heading\" data-id=\"29e8177\" data-element_type=\"widget\" data-e-type=\"widget\" id=\"5\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Construire votre <span class=\"color-accent-4\">portefeuille (strat\u00e9gie d'investissement)\n<\/span>\n<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-150035c elementor-widget elementor-widget-text-editor\" data-id=\"150035c\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p><span style=\"font-weight: 400;\">L'investissement dans les start-ups suit la loi de la puissance : une ou deux entreprises extraordinaires vous rapporteront la majeure partie de vos b\u00e9n\u00e9fices. Vous devez avoir suffisamment de chances pour que cela se produise.<\/span><\/p><ul><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\"><strong>Taille du portefeuille<\/strong>: Un bon fonds a besoin de 10 \u00e0 12 entreprises qui atteignent la s\u00e9rie B.<\/span><\/li><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\"><strong>Votre objectif :<\/strong> Si vous disposez de 50'000 \u00e0 100'000 francs suisses \u00e0 investir sur 2 ou 3 ans, vous pouvez obtenir 10 \u00e0 12 contrats en investissant 5'000 \u00e0 10'000 francs suisses dans chacun d'entre eux.<\/span><\/li><\/ul><h4><span style=\"font-weight: 400;\">R\u00e9partir les risques<\/span><\/h4><p><span style=\"font-weight: 400;\">R\u00e9partissez vos risques sur cinq domaines principaux :<\/span><\/p><ol><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\"><strong>Secteur<\/strong>: Investir dans diff\u00e9rents secteurs (biotech, IA, cleantech, fintech).<\/span><\/li><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\"><strong>Localisation<\/strong>: Utiliser les atouts de Zurich et de Lausanne.<\/span><\/li><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\"><strong>Stade<\/strong>: M\u00e9langer les entreprises de la s\u00e9rie A avec celles de la s\u00e9rie B.<\/span><\/li><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\"><strong>Vintage<\/strong>: Investir sur plusieurs ann\u00e9es.<\/span><\/li><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\"><strong>Source<\/strong>: Utiliser diff\u00e9rentes plateformes et canaux de n\u00e9gociation.<\/span><\/li><\/ol><h4><span style=\"font-weight: 400;\">Droits au prorata (fonds de suivi)<\/span><\/h4><p><span style=\"font-weight: 400;\">Votre meilleure entreprise l\u00e8vera probablement des fonds suppl\u00e9mentaires plus tard (s\u00e9rie C ou D). Les droits au prorata vous permettent d'investir plus d'argent tout en conservant le m\u00eame pourcentage de participation.<\/span><\/p><ul><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Argent de r\u00e9serve : Gardez entre 201 et 301 tonnes de votre investissement total de c\u00f4t\u00e9 pour les op\u00e9rations de suivi de vos gagnants.<\/span><\/li><\/ul><p><a href=\"https:\/\/capiwell.ch\/how-to-build-a-swiss-startup-portfolio-diversification-strategies-for-growth-stage-investors\/\"><span style=\"font-weight: 400;\">\u2192 En savoir plus : Comment construire un portefeuille d'investissement dans les startups suisses : Strat\u00e9gies de diversification pour les capitaux priv\u00e9s<\/span><\/a><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-adf1f79 e-flex e-con-boxed e-con e-parent\" data-id=\"adf1f79\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-9358686 elementor-widget elementor-widget-heading\" data-id=\"9358686\" data-element_type=\"widget\" data-e-type=\"widget\" id=\"6\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">L'innovation suisse : <span class=\"color-accent-4\">o\u00f9 investir ?\n\n<\/span>\n<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-5df6b2c elementor-widget elementor-widget-text-editor\" data-id=\"5df6b2c\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p><span style=\"font-weight: 400;\">La structure r\u00e9gionale de la Suisse cr\u00e9e plusieurs p\u00f4les d'investissement importants.<\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-ecd3ccb elementor-widget elementor-widget-shortcode\" data-id=\"ecd3ccb\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"shortcode.default\">\n\t\t\t\t\t\t\t<div class=\"elementor-shortcode\"><div class=\"capiwell-table-wrap\">\n  <table class=\"capiwell-table\">\n    <thead>\n      <tr>\n        <th>Type d'entreprise<\/th>\n        <th>Ce qu'il faut v\u00e9rifier (preuves)<\/th>\n      <\/tr>\n    <\/thead>\n\n    <tbody>\n      <tr>\n        <td data-label=\"Type of Company\">G\u00e9n\u00e9rer des recettes<\/td>\n        <td data-label=\"What to Look For (Proof)\">\n          Preuve de march\u00e9 : Ventes r\u00e9elles r\u00e9alis\u00e9es par des clients qui ne sont pas li\u00e9s aux fondateurs.\n          Un chiffre d'affaires annuel de 1 \u00e0 5 millions de francs suisses est un objectif courant pour la s\u00e9rie A.\n        <\/td>\n      <\/tr>\n\n      <tr>\n        <td data-label=\"Type of Company\">Investir dans les spin-offs acad\u00e9miques<\/td>\n        <td data-label=\"What to Look For (Proof)\">\n          Preuve technique : Liens officiels avec l'universit\u00e9 (comme l'ETH\/EPFL).\n          Ils v\u00e9rifient les brevets (IP) de l'entreprise et contr\u00f4lent le potentiel du march\u00e9.\n        <\/td>\n      <\/tr>\n    <\/tbody>\n  <\/table>\n<\/div>\n<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-ef8846b elementor-widget elementor-widget-text-editor\" data-id=\"ef8846b\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<h4><span style=\"font-weight: 400;\">Secteurs \u00e0 fort potentiel<\/span><\/h4><ul><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\"><strong>CleanTech<\/strong>: La loi suisse exige la neutralit\u00e9 carbone d'ici 2050. Cela cr\u00e9e une demande \u00e9norme et continue de la part des grandes entreprises. Exemple : Climeworks (capture du CO2) a lev\u00e9 plus de 950 millions de dollars.<\/span><\/li><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\"><strong>Deep Tech<\/strong>: Ce sont 60% de l'ensemble des investissements suisses qui ont \u00e9t\u00e9 capt\u00e9s. Recherchez des entreprises dot\u00e9es de solides \u00e9quipes de protection des donn\u00e9es et de recherche.<\/span><\/li><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\"><strong>HealthTech\/MedTech<\/strong>: Ces secteurs repr\u00e9sentent 45% du volume total en 2024. Il faut v\u00e9rifier le parcours de l'entreprise pour l'obtention de l'autorisation l\u00e9gale (Swissmedic) et la prise en charge du produit par les assureurs.<\/span><\/li><\/ul><p><a href=\"https:\/\/capiwell.ch\/zurich-vs-lausanne-where-should-swiss-tech-startups-raise-capital\/\"><span style=\"font-weight: 400;\">\u2192 En savoir plus : Zurich vs. Lausanne : O\u00f9 les startups technologiques suisses devraient-elles lever des capitaux ?<\/span><\/a><\/p><p><a href=\"https:\/\/capiwell.ch\/swiss-cleantech-startups-investment-opportunities-in-climate-innovation\/\"><span style=\"font-weight: 400;\">\u2192 En savoir plus : Swiss CleanTech Startups : Opportunit\u00e9s d'investissement dans l'innovation climatique<\/span><\/a><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-625cd82 e-flex e-con-boxed e-con e-parent\" data-id=\"625cd82\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-3c0bd58 elementor-widget elementor-widget-heading\" data-id=\"3c0bd58\" data-element_type=\"widget\" data-e-type=\"widget\" id=\"7\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">\u00c9tapes pratiques : <span class=\"color-accent-4\">sorties et risques<\/span>\n<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-c123ed3 elementor-widget elementor-widget-text-editor\" data-id=\"c123ed3\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<h4><span style=\"font-weight: 400;\">Strat\u00e9gies de sortie et liquidit\u00e9s<\/span><\/h4><p><span style=\"font-weight: 400;\">La sortie signifie que l'entreprise est vendue et que vous r\u00e9cup\u00e9rez votre argent.<\/span><\/p><ul><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\"><strong>Le chemin principal<\/strong>: Environ 85% des sorties se font par le biais de rachats (M&amp;A), o\u00f9 une plus grande entreprise ach\u00e8te la startup. Seules quelques entreprises s'introduisent en bourse (IPO).<\/span><\/li><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\"><strong>Chronologie<\/strong>: Les entreprises en phase de croissance sont plus proches d'une sortie. Vous pouvez obtenir un retour sur investissement dans 5 \u00e0 7 ans, au lieu de 7 \u00e0 10 ans pour les entreprises en phase d'amor\u00e7age.<\/span><\/li><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\"><strong>Liquidit\u00e9:<\/strong>: Les actions de soci\u00e9t\u00e9s priv\u00e9es ne sont pas liquides (vous ne pouvez pas les vendre facilement). Pr\u00e9voyez de conserver votre investissement pendant 5 \u00e0 7 ans au minimum.<\/span><\/li><\/ul><ul><\/ul><p><a href=\"https:\/\/capiwell.ch\/exit-strategies-for-swiss-startups-what-founders-and-investors-should-know-about-ipos-acquisitions-and-alternative-paths\/\"><span style=\"font-weight: 400;\">\u2192 En savoir plus : Strat\u00e9gies de sortie pour les startups suisses : Acquisition, introduction en bourse et voies alternatives<\/span><\/a><\/p><p><a href=\"https:\/\/capiwell.ch\/how-to-sell-startup-shares-in-switzerland-navigating-the-secondary-market\/\"><span style=\"font-weight: 400;\">\u2192 En savoir plus : Comment vendre les actions d'une startup en Suisse : Naviguer sur le march\u00e9 secondaire<\/span><\/a><\/p><h4><span style=\"font-weight: 400;\">Gestion des risques<\/span><\/h4><p><span style=\"font-weight: 400;\">L'investissement en phase de croissance est plus s\u00fbr qu'en phase d'amor\u00e7age, mais des risques subsistent :<\/span><\/p><ul><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\"><strong>Une mise \u00e0 l'\u00e9chelle trop rapide<\/strong>: Les entreprises \u00e9chouent lorsqu'elles d\u00e9pensent des liquidit\u00e9s (taux d'absorption) plus rapidement qu'elles ne r\u00e9alisent de ventes.<\/span><\/li><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\"><strong>\u00c9conomie de l'unit\u00e9<\/strong>: Leurs co\u00fbts ne diminuent pas \u00e0 mesure qu'elles grossissent.<\/span><\/li><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\"><strong>Talent<\/strong>: Ils ne parviennent pas \u00e0 embaucher ou \u00e0 garder les bonnes personnes.<\/span><\/li><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\"><strong>March\u00e9 suisse<\/strong>: L'\u00e9troitesse du march\u00e9 int\u00e9rieur de la Suisse l'oblige \u00e0 se d\u00e9velopper tr\u00e8s t\u00f4t \u00e0 l'\u00e9chelle mondiale, ce qui co\u00fbte de l'argent et ajoute de la difficult\u00e9.<\/span><\/li><\/ul><p><span style=\"font-weight: 400;\">La meilleure fa\u00e7on de r\u00e9duire le risque est de construire un portefeuille : investir dans 10 \u00e0 12 entreprises de diff\u00e9rents secteurs et sur plusieurs ann\u00e9es.<\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-91314d5 e-flex e-con-boxed e-con e-parent\" data-id=\"91314d5\" data-element_type=\"container\" data-e-type=\"container\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t<div class=\"elementor-element elementor-element-40ee36d e-flex e-con-boxed e-con e-child\" data-id=\"40ee36d\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t<div class=\"elementor-element elementor-element-073017a elementor-invisible e-con-full blur-background animated-fast e-flex e-con e-child\" data-id=\"073017a\" data-element_type=\"container\" data-e-type=\"container\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;,&quot;sticky&quot;:&quot;bottom&quot;,&quot;sticky_on&quot;:[&quot;desktop&quot;],&quot;sticky_offset&quot;:60,&quot;sticky_parent&quot;:&quot;yes&quot;,&quot;animation&quot;:&quot;fadeIn&quot;,&quot;sticky_effects_offset&quot;:0,&quot;sticky_anchor_link_offset&quot;:0}\">\n\t\t\t\t<div class=\"elementor-element elementor-element-d055524 elementor-widget elementor-widget-heading\" data-id=\"d055524\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Investir ou trouver les fonds pour<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-a96e776 elementor-widget__width-initial elementor-widget elementor-widget-heading\" data-id=\"a96e776\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\">un projet de startup en phase de croissance<\/h3>\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-9b36621 elementor-widget elementor-widget-heading\" data-id=\"9b36621\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">via la Plateforme CapiWell<\/h2>\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-a110da4 e-con-full e-flex e-con e-child\" data-id=\"a110da4\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-541e814 elementor-widget__width-initial elementor-widget elementor-widget-heading\" data-id=\"541e814\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<span class=\"elementor-heading-title elementor-size-default\">Si vous souhaitez participer en tant qu'investisseur priv\u00e9 ou institutionnel, ou lever des fonds pour votre projet, veuillez commencer d\u00e8s aujourd'hui.<\/span>\t\t\t\t<\/div>\n\t\t\t\t<div class=\"vamtam-has-theme-widget-styles elementor-element elementor-element-b48cbc8 vamtam-icon-pos-row-reverse elementor-widget elementor-widget-button\" data-id=\"b48cbc8\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"button.default\">\n\t\t\t\t\t\t\t\t\t\t<a class=\"elementor-button elementor-button-link elementor-size-sm\" href=\"https:\/\/capiwell.ch\/fr\/commencer\/\">\n\t\t\t\t\t\t<span class=\"elementor-button-content-wrapper\">\n\t\t\t\t\t\t<span class=\"elementor-button-icon\">\n\t\t\t\t<i aria-hidden=\"true\" class=\"vamtamtheme- vamtam-theme-arrow-link-up\"><\/i>\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t<span class=\"elementor-button-text\">Cr\u00e9er un compte<\/span>\n\t\t\t\t\t<\/span>\n\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-61fb7f1 e-flex e-con-boxed e-con e-child\" data-id=\"61fb7f1\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t<div class=\"elementor-element elementor-element-4c9da5b e-con-full e-flex e-con e-child\" data-id=\"4c9da5b\" data-element_type=\"container\" data-e-type=\"container\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-36636a3 e-con-full e-flex e-con e-child\" data-id=\"36636a3\" data-element_type=\"container\" data-e-type=\"container\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t<div class=\"elementor-element elementor-element-5987cc4 e-con-full e-flex e-con e-child\" data-id=\"5987cc4\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-8a1fd6d elementor-invisible animated-fast elementor-widget elementor-widget-heading\" data-id=\"8a1fd6d\" data-element_type=\"widget\" data-e-type=\"widget\" data-settings=\"{&quot;_animation&quot;:&quot;slideInUp&quot;,&quot;_animation_delay&quot;:50}\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\">La m\u00e9thode CapiWell<\/h3>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-fa7ba41 e-con-full e-flex e-con e-child\" data-id=\"fa7ba41\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-7729c1e elementor-widget elementor-widget-text-editor\" data-id=\"7729c1e\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p>Le mouvement visant \u00e0 rendre plus accessible l'investissement dans les startups en phase de croissance prend d\u00e9j\u00e0 de l'ampleur. Gr\u00e2ce aux plateformes d'investissement modernes qui permettent d'investir directement dans des actions de startups, ce monde n'est plus r\u00e9serv\u00e9 aux grandes institutions et aux family offices bien connect\u00e9s. Aujourd'hui, les investisseurs de masse et les investisseurs HENRY peuvent enfin y participer. Et ce changement n'abaisse pas la barre, mais ouvre la porte \u00e0 un plus grand nombre de personnes pour participer \u00e0 un espace qui \u00e9tait autrefois difficile d'acc\u00e8s.<\/p><p>Les startups en phase de croissance ne sont pas une classe d'actifs comme les autres. Ce sont des \u00e9cosyst\u00e8mes dynamiques et innovants o\u00f9 la complexit\u00e9 cr\u00e9e des opportunit\u00e9s, o\u00f9 la durabilit\u00e9 cr\u00e9e de la valeur \u00e0 long terme et o\u00f9 une nouvelle g\u00e9n\u00e9ration d'investisseurs obtient une place significative \u00e0 la table.<\/p><p>C'est l\u00e0 que CapiWell intervient. Elle met \u00e0 la disposition d'une plus large communaut\u00e9 d'investisseurs des opportunit\u00e9s d'investissement dans des start-ups de grande qualit\u00e9. Vous souhaitez explorer le monde de l'investissement dans les startups en phase de croissance ? Vous pouvez approfondir tout ce que nous avons abord\u00e9 ici gr\u00e2ce \u00e0 nos guides d\u00e9taill\u00e9s.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-3cb826b e-flex e-con-boxed e-con e-parent\" data-id=\"3cb826b\" data-element_type=\"container\" data-e-type=\"container\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t<div class=\"elementor-element elementor-element-1d4da48 e-con-full e-flex e-con e-child\" data-id=\"1d4da48\" data-element_type=\"container\" data-e-type=\"container\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t<div class=\"elementor-element elementor-element-45173b0 e-con-full e-flex e-con e-child\" data-id=\"45173b0\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t<div class=\"elementor-element elementor-element-8b34386 e-con-full e-flex e-con e-child\" data-id=\"8b34386\" data-element_type=\"container\" data-e-type=\"container\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t<div class=\"elementor-element elementor-element-da09f82 elementor-widget elementor-widget-heading\" data-id=\"da09f82\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h4 class=\"elementor-heading-title elementor-size-default\">Qui utilise CapiWell ?<\/h4>\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-5af15c2 elementor-widget elementor-widget-text-editor\" data-id=\"5af15c2\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p><span style=\"font-weight: 400;\">Notre plateforme attire \u00e0 la fois des particuliers et des investisseurs institutionnels, notamment des family offices, des fonds immobiliers, des investisseurs professionnels et des particuliers \u00e0 la recherche d'un rendement stable. Ces investisseurs appr\u00e9cient notre <\/span><b>diligence raisonnable transparente, des rapports structur\u00e9s, une surveillance num\u00e9rique et un mod\u00e8le de copropri\u00e9t\u00e9<\/b><span style=\"font-weight: 400;\">, qui leur permet de participer directement \u00e0 l'immobilier suisse sans en g\u00e9rer l'administration quotidienne.<\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-bb799d1 e-con-full e-flex e-con e-child\" data-id=\"bb799d1\" data-element_type=\"container\" data-e-type=\"container\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t<div class=\"elementor-element elementor-element-bc5aeeb elementor-widget elementor-widget-heading\" data-id=\"bc5aeeb\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h4 class=\"elementor-heading-title elementor-size-default\">Rejoindre le mouvement<\/h4>\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-e441fc1 elementor-widget elementor-widget-text-editor\" data-id=\"e441fc1\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p><span style=\"font-weight: 400;\">Investir dans des actions immobili\u00e8res via le financement participatif de CapiWell est plus qu'une d\u00e9cision financi\u00e8re - c'est une chance de construire un patrimoine stable et \u00e0 long terme gr\u00e2ce \u00e0 une classe d'actifs qui a fait ses preuves. Gr\u00e2ce \u00e0 notre plateforme multi-actifs, vous pouvez vous diversifier dans l'immobilier, les startups, les pr\u00eats et les spin-offs acad\u00e9miques, tout en conservant une visibilit\u00e9 et un contr\u00f4le clairs sur votre portefeuille.<\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-ba97e99 e-flex e-con-boxed e-con e-parent\" data-id=\"ba97e99\" data-element_type=\"container\" data-e-type=\"container\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t<div class=\"elementor-element elementor-element-2588384 e-flex e-con-boxed e-con e-child\" data-id=\"2588384\" data-element_type=\"container\" data-e-type=\"container\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t<div class=\"elementor-element elementor-element-a974416 e-con-full e-flex e-con e-child\" data-id=\"a974416\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t<div class=\"elementor-element elementor-element-ecc0495 e-con-full e-flex e-con e-child\" data-id=\"ecc0495\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-b6bed32 elementor-invisible elementor-widget__width-initial animated-fast elementor-widget elementor-widget-heading\" data-id=\"b6bed32\" data-element_type=\"widget\" data-e-type=\"widget\" data-settings=\"{&quot;_animation&quot;:&quot;fadeIn&quot;}\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Cr\u00e9ateurs d\u2019impulsion:  <span class=\"color-accent-4\">Startups en phase de croissance<\/span><\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-fbce042 e-con-full e-flex e-con e-child\" data-id=\"fbce042\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t<div class=\"elementor-element elementor-element-1211ac5 e-con-full e-flex e-con e-child\" data-id=\"1211ac5\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t<div class=\"vamtam-has-theme-widget-styles elementor-element elementor-element-f093fed elementor-invisible elementor-grid-tablet-2 elementor-grid-3 animated-fast elementor-grid-mobile-1 elementor-widget elementor-widget-loop-grid\" data-id=\"f093fed\" data-element_type=\"widget\" data-e-type=\"widget\" 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e-flex e-con e-child\" data-id=\"c6f064d\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-4c3057f elementor-widget elementor-widget-theme-post-featured-image elementor-widget-image\" data-id=\"4c3057f\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"theme-post-featured-image.default\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/capiwell.ch\/fr\/les-capitaux-prives-remodelent-le-paysage-de-la-biotechnologie-en-suisse\/\">\n\t\t\t\t\t\t\t<img fetchpriority=\"high\" decoding=\"async\" width=\"1024\" height=\"586\" src=\"https:\/\/capiwell.ch\/wp-content\/uploads\/2025\/12\/biotech-private-capital-1024x586.jpeg\" class=\"attachment-large size-large wp-image-992968\" alt=\"\" srcset=\"https:\/\/capiwell.ch\/wp-content\/uploads\/2025\/12\/biotech-private-capital-1024x586.jpeg 1024w, https:\/\/capiwell.ch\/wp-content\/uploads\/2025\/12\/biotech-private-capital-300x172.jpeg 300w, https:\/\/capiwell.ch\/wp-content\/uploads\/2025\/12\/biotech-private-capital-768x440.jpeg 768w, https:\/\/capiwell.ch\/wp-content\/uploads\/2025\/12\/biotech-private-capital-1536x879.jpeg 1536w, https:\/\/capiwell.ch\/wp-content\/uploads\/2025\/12\/biotech-private-capital-18x10.jpeg 18w, https:\/\/capiwell.ch\/wp-content\/uploads\/2025\/12\/biotech-private-capital-600x343.jpeg 600w, https:\/\/capiwell.ch\/wp-content\/uploads\/2025\/12\/biotech-private-capital.jpeg 1920w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/>\t\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-8ecca38 e-con-full e-flex e-con e-child\" data-id=\"8ecca38\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-6b7874f small-post-heading elementor-widget elementor-widget-theme-post-title elementor-page-title elementor-widget-heading\" data-id=\"6b7874f\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"theme-post-title.default\">\n\t\t\t\t\t<p class=\"elementor-heading-title elementor-size-default\"><a href=\"https:\/\/capiwell.ch\/fr\/les-capitaux-prives-remodelent-le-paysage-de-la-biotechnologie-en-suisse\/\">Les capitaux priv\u00e9s remod\u00e8lent le paysage biotechnologique suisse<\/a><\/p>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-19c9ff1 e-con-full e-flex e-con e-child\" data-id=\"19c9ff1\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t<div class=\"vamtam-has-theme-widget-styles elementor-element elementor-element-4666be3 elementor-view-stacked elementor-shape-circle elementor-widget elementor-widget-icon\" data-id=\"4666be3\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"icon.default\">\n\t\t\t\t\t\t\t<div class=\"elementor-icon-wrapper\">\n\t\t\t<a class=\"elementor-icon\" href=\"https:\/\/capiwell.ch\/fr\/les-capitaux-prives-remodelent-le-paysage-de-la-biotechnologie-en-suisse\/\">\n\t\t\t<i aria-hidden=\"true\" class=\"vamtamtheme- vamtam-theme-arrow-link-up\"><\/i>\t\t\t<\/a>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div data-elementor-type=\"loop-item\" data-elementor-id=\"992067\" class=\"elementor elementor-992067 e-loop-item e-loop-item-993435 post-993435 post type-post status-publish format-standard has-post-thumbnail hentry category-capiwell-perspective category-growth-stage-startups tag-practical-esg-playbook\" data-elementor-post-type=\"elementor_library\" data-custom-edit-handle=\"1\">\n\t\t\t<div class=\"elementor-element elementor-element-8e6c8a1 e-flex e-con-boxed e-con e-parent\" data-id=\"8e6c8a1\" data-element_type=\"container\" data-e-type=\"container\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t<div class=\"elementor-element elementor-element-c6f064d e-con-full e-flex e-con e-child\" data-id=\"c6f064d\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-4c3057f elementor-widget elementor-widget-theme-post-featured-image elementor-widget-image\" data-id=\"4c3057f\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"theme-post-featured-image.default\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/capiwell.ch\/fr\/capital-well-done-a-practical-esg-playbook-for-private-market-capital-in-switzerland\/\">\n\t\t\t\t\t\t\t<img decoding=\"async\" width=\"1024\" height=\"579\" src=\"https:\/\/capiwell.ch\/wp-content\/uploads\/2026\/01\/Practical-ESG-Playbook-1024x579.jpeg\" class=\"attachment-large size-large wp-image-993436\" alt=\"\" srcset=\"https:\/\/capiwell.ch\/wp-content\/uploads\/2026\/01\/Practical-ESG-Playbook-1024x579.jpeg 1024w, https:\/\/capiwell.ch\/wp-content\/uploads\/2026\/01\/Practical-ESG-Playbook-300x170.jpeg 300w, https:\/\/capiwell.ch\/wp-content\/uploads\/2026\/01\/Practical-ESG-Playbook-768x434.jpeg 768w, https:\/\/capiwell.ch\/wp-content\/uploads\/2026\/01\/Practical-ESG-Playbook-1536x868.jpeg 1536w, https:\/\/capiwell.ch\/wp-content\/uploads\/2026\/01\/Practical-ESG-Playbook-18x10.jpeg 18w, https:\/\/capiwell.ch\/wp-content\/uploads\/2026\/01\/Practical-ESG-Playbook-600x339.jpeg 600w, https:\/\/capiwell.ch\/wp-content\/uploads\/2026\/01\/Practical-ESG-Playbook.jpeg 1600w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/>\t\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-8ecca38 e-con-full e-flex e-con e-child\" data-id=\"8ecca38\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-6b7874f small-post-heading elementor-widget elementor-widget-theme-post-title elementor-page-title elementor-widget-heading\" data-id=\"6b7874f\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"theme-post-title.default\">\n\t\t\t\t\t<p class=\"elementor-heading-title elementor-size-default\"><a href=\"https:\/\/capiwell.ch\/fr\/capital-well-done-a-practical-esg-playbook-for-private-market-capital-in-switzerland\/\">Capital Well Done : Un guide pratique ESG pour les capitaux du march\u00e9 priv\u00e9 en Suisse<\/a><\/p>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-19c9ff1 e-con-full e-flex e-con e-child\" data-id=\"19c9ff1\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t<div class=\"vamtam-has-theme-widget-styles elementor-element elementor-element-4666be3 elementor-view-stacked elementor-shape-circle elementor-widget elementor-widget-icon\" data-id=\"4666be3\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"icon.default\">\n\t\t\t\t\t\t\t<div class=\"elementor-icon-wrapper\">\n\t\t\t<a class=\"elementor-icon\" href=\"https:\/\/capiwell.ch\/fr\/capital-well-done-a-practical-esg-playbook-for-private-market-capital-in-switzerland\/\">\n\t\t\t<i aria-hidden=\"true\" class=\"vamtamtheme- vamtam-theme-arrow-link-up\"><\/i>\t\t\t<\/a>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div data-elementor-type=\"loop-item\" data-elementor-id=\"992067\" class=\"elementor elementor-992067 e-loop-item e-loop-item-993441 post-993441 post type-post status-publish format-standard has-post-thumbnail hentry category-growth-stage-startups tag-swiss-growth-startups-funding\" data-elementor-post-type=\"elementor_library\" data-custom-edit-handle=\"1\">\n\t\t\t<div class=\"elementor-element elementor-element-8e6c8a1 e-flex e-con-boxed e-con e-parent\" data-id=\"8e6c8a1\" data-element_type=\"container\" data-e-type=\"container\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t<div class=\"elementor-element elementor-element-c6f064d e-con-full e-flex e-con e-child\" data-id=\"c6f064d\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-4c3057f elementor-widget elementor-widget-theme-post-featured-image elementor-widget-image\" data-id=\"4c3057f\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"theme-post-featured-image.default\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/capiwell.ch\/fr\/la-maturite-organisationnelle-est-un-signal-de-financement-cle-pour-les-startups-suisses-en-croissance\/\">\n\t\t\t\t\t\t\t<img decoding=\"async\" width=\"1024\" height=\"585\" src=\"https:\/\/capiwell.ch\/wp-content\/uploads\/2026\/01\/Organisational-Maturity-1024x585.jpeg\" class=\"attachment-large size-large wp-image-993442\" alt=\"\" srcset=\"https:\/\/capiwell.ch\/wp-content\/uploads\/2026\/01\/Organisational-Maturity-1024x585.jpeg 1024w, https:\/\/capiwell.ch\/wp-content\/uploads\/2026\/01\/Organisational-Maturity-300x171.jpeg 300w, https:\/\/capiwell.ch\/wp-content\/uploads\/2026\/01\/Organisational-Maturity-768x439.jpeg 768w, https:\/\/capiwell.ch\/wp-content\/uploads\/2026\/01\/Organisational-Maturity-1536x877.jpeg 1536w, https:\/\/capiwell.ch\/wp-content\/uploads\/2026\/01\/Organisational-Maturity-18x10.jpeg 18w, https:\/\/capiwell.ch\/wp-content\/uploads\/2026\/01\/Organisational-Maturity-600x343.jpeg 600w, https:\/\/capiwell.ch\/wp-content\/uploads\/2026\/01\/Organisational-Maturity.jpeg 1600w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/>\t\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-8ecca38 e-con-full e-flex e-con e-child\" data-id=\"8ecca38\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t<div 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elementor-widget-icon\" data-id=\"4666be3\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"icon.default\">\n\t\t\t\t\t\t\t<div class=\"elementor-icon-wrapper\">\n\t\t\t<a class=\"elementor-icon\" href=\"https:\/\/capiwell.ch\/fr\/la-maturite-organisationnelle-est-un-signal-de-financement-cle-pour-les-startups-suisses-en-croissance\/\">\n\t\t\t<i aria-hidden=\"true\" class=\"vamtamtheme- vamtam-theme-arrow-link-up\"><\/i>\t\t\t<\/a>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div data-elementor-type=\"loop-item\" data-elementor-id=\"992067\" class=\"elementor elementor-992067 e-loop-item e-loop-item-993304 post-993304 post type-post status-publish format-standard has-post-thumbnail hentry category-biotech-and-medtech category-growth-stage-startups category-industry tag-innosuisse\" data-elementor-post-type=\"elementor_library\" data-custom-edit-handle=\"1\">\n\t\t\t<div class=\"elementor-element elementor-element-8e6c8a1 e-flex e-con-boxed e-con e-parent\" data-id=\"8e6c8a1\" data-element_type=\"container\" data-e-type=\"container\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t<div class=\"elementor-element elementor-element-c6f064d e-con-full e-flex e-con e-child\" data-id=\"c6f064d\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-4c3057f elementor-widget elementor-widget-theme-post-featured-image elementor-widget-image\" data-id=\"4c3057f\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"theme-post-featured-image.default\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/capiwell.ch\/fr\/les-subventions-dinnosuisse-constituent-une-validation-qui-rassure-les-investisseurs-quant-au-soutien-du-gouvernement-suisse\/\">\n\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"512\" src=\"https:\/\/capiwell.ch\/wp-content\/uploads\/2026\/12\/innosuisse-1024x512.jpg\" class=\"attachment-large size-large wp-image-993306\" alt=\"\" srcset=\"https:\/\/capiwell.ch\/wp-content\/uploads\/2026\/12\/innosuisse-1024x512.jpg 1024w, https:\/\/capiwell.ch\/wp-content\/uploads\/2026\/12\/innosuisse-300x150.jpg 300w, https:\/\/capiwell.ch\/wp-content\/uploads\/2026\/12\/innosuisse-768x384.jpg 768w, https:\/\/capiwell.ch\/wp-content\/uploads\/2026\/12\/innosuisse-1536x768.jpg 1536w, https:\/\/capiwell.ch\/wp-content\/uploads\/2026\/12\/innosuisse-18x9.jpg 18w, https:\/\/capiwell.ch\/wp-content\/uploads\/2026\/12\/innosuisse.jpg 1920w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/>\t\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-8ecca38 e-con-full e-flex e-con e-child\" data-id=\"8ecca38\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-6b7874f small-post-heading elementor-widget elementor-widget-theme-post-title elementor-page-title elementor-widget-heading\" data-id=\"6b7874f\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"theme-post-title.default\">\n\t\t\t\t\t<p class=\"elementor-heading-title elementor-size-default\"><a href=\"https:\/\/capiwell.ch\/fr\/les-subventions-dinnosuisse-constituent-une-validation-qui-rassure-les-investisseurs-quant-au-soutien-du-gouvernement-suisse\/\">Les subventions d'Innosuisse comme validation : ce que le soutien du gouvernement suisse indique aux investisseurs<\/a><\/p>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-19c9ff1 e-con-full e-flex e-con e-child\" data-id=\"19c9ff1\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t<div class=\"vamtam-has-theme-widget-styles elementor-element elementor-element-4666be3 elementor-view-stacked elementor-shape-circle elementor-widget elementor-widget-icon\" data-id=\"4666be3\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"icon.default\">\n\t\t\t\t\t\t\t<div class=\"elementor-icon-wrapper\">\n\t\t\t<a class=\"elementor-icon\" href=\"https:\/\/capiwell.ch\/fr\/les-subventions-dinnosuisse-constituent-une-validation-qui-rassure-les-investisseurs-quant-au-soutien-du-gouvernement-suisse\/\">\n\t\t\t<i aria-hidden=\"true\" class=\"vamtamtheme- vamtam-theme-arrow-link-up\"><\/i>\t\t\t<\/a>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div data-elementor-type=\"loop-item\" data-elementor-id=\"992067\" class=\"elementor elementor-992067 e-loop-item e-loop-item-992903 post-992903 post type-post status-publish format-standard has-post-thumbnail hentry category-enterprise-empowered category-growth-stage-startups tag-startups tag-swiss-innovation tag-venture-capital\" data-elementor-post-type=\"elementor_library\" data-custom-edit-handle=\"1\">\n\t\t\t<div class=\"elementor-element elementor-element-8e6c8a1 e-flex e-con-boxed e-con e-parent\" data-id=\"8e6c8a1\" data-element_type=\"container\" data-e-type=\"container\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t<div class=\"elementor-element elementor-element-c6f064d e-con-full e-flex e-con e-child\" data-id=\"c6f064d\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-4c3057f elementor-widget elementor-widget-theme-post-featured-image elementor-widget-image\" data-id=\"4c3057f\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"theme-post-featured-image.default\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/capiwell.ch\/fr\/renforcer-la-base-de-capital-risque-pour-liberer-le-potentiel-dinnovation-de-la-suisse\/\">\n\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"586\" src=\"https:\/\/capiwell.ch\/wp-content\/uploads\/2025\/12\/venture-capital-1024x586.jpeg\" class=\"attachment-large size-large wp-image-992904\" alt=\"\" srcset=\"https:\/\/capiwell.ch\/wp-content\/uploads\/2025\/12\/venture-capital-1024x586.jpeg 1024w, https:\/\/capiwell.ch\/wp-content\/uploads\/2025\/12\/venture-capital-300x172.jpeg 300w, https:\/\/capiwell.ch\/wp-content\/uploads\/2025\/12\/venture-capital-768x440.jpeg 768w, https:\/\/capiwell.ch\/wp-content\/uploads\/2025\/12\/venture-capital-1536x879.jpeg 1536w, https:\/\/capiwell.ch\/wp-content\/uploads\/2025\/12\/venture-capital-18x10.jpeg 18w, https:\/\/capiwell.ch\/wp-content\/uploads\/2025\/12\/venture-capital-600x343.jpeg 600w, https:\/\/capiwell.ch\/wp-content\/uploads\/2025\/12\/venture-capital.jpeg 1920w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/>\t\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-8ecca38 e-con-full e-flex e-con e-child\" data-id=\"8ecca38\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-6b7874f small-post-heading elementor-widget elementor-widget-theme-post-title elementor-page-title elementor-widget-heading\" data-id=\"6b7874f\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"theme-post-title.default\">\n\t\t\t\t\t<p class=\"elementor-heading-title elementor-size-default\"><a href=\"https:\/\/capiwell.ch\/fr\/renforcer-la-base-de-capital-risque-pour-liberer-le-potentiel-dinnovation-de-la-suisse\/\">Renforcer la base de capital-risque pour lib\u00e9rer le potentiel d'innovation de la Suisse<\/a><\/p>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-19c9ff1 e-con-full e-flex e-con e-child\" data-id=\"19c9ff1\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t<div class=\"vamtam-has-theme-widget-styles elementor-element elementor-element-4666be3 elementor-view-stacked elementor-shape-circle elementor-widget elementor-widget-icon\" data-id=\"4666be3\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"icon.default\">\n\t\t\t\t\t\t\t<div class=\"elementor-icon-wrapper\">\n\t\t\t<a class=\"elementor-icon\" href=\"https:\/\/capiwell.ch\/fr\/renforcer-la-base-de-capital-risque-pour-liberer-le-potentiel-dinnovation-de-la-suisse\/\">\n\t\t\t<i aria-hidden=\"true\" class=\"vamtamtheme- vamtam-theme-arrow-link-up\"><\/i>\t\t\t<\/a>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div data-elementor-type=\"loop-item\" data-elementor-id=\"992067\" class=\"elementor elementor-992067 e-loop-item e-loop-item-992865 post-992865 post type-post status-publish format-standard has-post-thumbnail hentry category-growth-stage-startups category-biotech-and-medtech category-healthtech tag-healthtech tag-medtech\" data-elementor-post-type=\"elementor_library\" data-custom-edit-handle=\"1\">\n\t\t\t<div class=\"elementor-element elementor-element-8e6c8a1 e-flex e-con-boxed e-con e-parent\" data-id=\"8e6c8a1\" data-element_type=\"container\" data-e-type=\"container\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t<div class=\"elementor-element elementor-element-c6f064d e-con-full e-flex e-con e-child\" data-id=\"c6f064d\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-4c3057f elementor-widget elementor-widget-theme-post-featured-image elementor-widget-image\" data-id=\"4c3057f\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"theme-post-featured-image.default\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/capiwell.ch\/fr\/comment-la-repartition-du-capital-entre-les-fondateurs-influe-sur-la-reussite-dune-start-up\/\">\n\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"586\" src=\"https:\/\/capiwell.ch\/wp-content\/uploads\/2025\/12\/restructuring-1024x586.jpeg\" class=\"attachment-large size-large wp-image-992870\" alt=\"\" srcset=\"https:\/\/capiwell.ch\/wp-content\/uploads\/2025\/12\/restructuring-1024x586.jpeg 1024w, https:\/\/capiwell.ch\/wp-content\/uploads\/2025\/12\/restructuring-300x172.jpeg 300w, https:\/\/capiwell.ch\/wp-content\/uploads\/2025\/12\/restructuring-768x440.jpeg 768w, https:\/\/capiwell.ch\/wp-content\/uploads\/2025\/12\/restructuring-1536x879.jpeg 1536w, https:\/\/capiwell.ch\/wp-content\/uploads\/2025\/12\/restructuring-18x10.jpeg 18w, https:\/\/capiwell.ch\/wp-content\/uploads\/2025\/12\/restructuring-600x343.jpeg 600w, https:\/\/capiwell.ch\/wp-content\/uploads\/2025\/12\/restructuring.jpeg 1920w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/>\t\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-8ecca38 e-con-full e-flex e-con e-child\" data-id=\"8ecca38\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-6b7874f small-post-heading elementor-widget elementor-widget-theme-post-title elementor-page-title elementor-widget-heading\" data-id=\"6b7874f\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"theme-post-title.default\">\n\t\t\t\t\t<p class=\"elementor-heading-title elementor-size-default\"><a href=\"https:\/\/capiwell.ch\/fr\/comment-la-repartition-du-capital-entre-les-fondateurs-influe-sur-la-reussite-dune-start-up\/\">Comment la r\u00e9partition du capital des fondateurs influe sur la r\u00e9ussite des start-up : strat\u00e9gies de n\u00e9gociation pour les fondateurs suisses<\/a><\/p>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-19c9ff1 e-con-full e-flex e-con e-child\" data-id=\"19c9ff1\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t<div class=\"vamtam-has-theme-widget-styles elementor-element elementor-element-4666be3 elementor-view-stacked elementor-shape-circle elementor-widget elementor-widget-icon\" data-id=\"4666be3\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"icon.default\">\n\t\t\t\t\t\t\t<div class=\"elementor-icon-wrapper\">\n\t\t\t<a class=\"elementor-icon\" href=\"https:\/\/capiwell.ch\/fr\/comment-la-repartition-du-capital-entre-les-fondateurs-influe-sur-la-reussite-dune-start-up\/\">\n\t\t\t<i aria-hidden=\"true\" class=\"vamtamtheme- vamtam-theme-arrow-link-up\"><\/i>\t\t\t<\/a>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div data-elementor-type=\"loop-item\" data-elementor-id=\"992067\" class=\"elementor elementor-992067 e-loop-item e-loop-item-992858 post-992858 post type-post status-publish format-standard has-post-thumbnail hentry category-growth-stage-startups category-ai-and-machine-learning tag-ai tag-machine-learning\" data-elementor-post-type=\"elementor_library\" data-custom-edit-handle=\"1\">\n\t\t\t<div class=\"elementor-element elementor-element-8e6c8a1 e-flex e-con-boxed e-con e-parent\" data-id=\"8e6c8a1\" data-element_type=\"container\" data-e-type=\"container\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t<div class=\"elementor-element elementor-element-c6f064d e-con-full e-flex e-con e-child\" data-id=\"c6f064d\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-4c3057f elementor-widget elementor-widget-theme-post-featured-image elementor-widget-image\" data-id=\"4c3057f\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"theme-post-featured-image.default\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/capiwell.ch\/fr\/start-ups-suisses-specialisees-dans-lia-et-lapprentissage-automatique-guide-a-lintention-des-investisseurs\/\">\n\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"577\" src=\"https:\/\/capiwell.ch\/wp-content\/uploads\/2025\/12\/AI-Guide-1024x577.jpeg\" class=\"attachment-large size-large wp-image-992860\" alt=\"\" srcset=\"https:\/\/capiwell.ch\/wp-content\/uploads\/2025\/12\/AI-Guide-1024x577.jpeg 1024w, https:\/\/capiwell.ch\/wp-content\/uploads\/2025\/12\/AI-Guide-300x169.jpeg 300w, https:\/\/capiwell.ch\/wp-content\/uploads\/2025\/12\/AI-Guide-768x433.jpeg 768w, https:\/\/capiwell.ch\/wp-content\/uploads\/2025\/12\/AI-Guide-1536x866.jpeg 1536w, https:\/\/capiwell.ch\/wp-content\/uploads\/2025\/12\/AI-Guide-18x10.jpeg 18w, 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href=\"https:\/\/capiwell.ch\/fr\/guide-des-term-sheets-pour-les-investisseurs-dans-les-start-ups-suisses\/\">\n\t\t\t<i aria-hidden=\"true\" class=\"vamtamtheme- vamtam-theme-arrow-link-up\"><\/i>\t\t\t<\/a>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div data-elementor-type=\"loop-item\" data-elementor-id=\"992067\" class=\"elementor elementor-992067 e-loop-item e-loop-item-992813 post-992813 post type-post status-publish format-standard has-post-thumbnail hentry category-growth-stage-startups tag-crowdinvesting tag-startups\" data-elementor-post-type=\"elementor_library\" data-custom-edit-handle=\"1\">\n\t\t\t<div class=\"elementor-element elementor-element-8e6c8a1 e-flex e-con-boxed e-con e-parent\" data-id=\"8e6c8a1\" data-element_type=\"container\" data-e-type=\"container\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t<div class=\"elementor-element elementor-element-c6f064d e-con-full e-flex e-con e-child\" data-id=\"c6f064d\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-4c3057f elementor-widget elementor-widget-theme-post-featured-image elementor-widget-image\" data-id=\"4c3057f\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"theme-post-featured-image.default\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/capiwell.ch\/fr\/de-lidee-a-linvestissement-comment-les-start-ups-suisses-obtiennent-des-financements-sur-les-plateformes-de-crowdinvesting\/\">\n\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"586\" src=\"https:\/\/capiwell.ch\/wp-content\/uploads\/2025\/12\/start-1024x586.jpeg\" class=\"attachment-large size-large wp-image-992818\" alt=\"\" srcset=\"https:\/\/capiwell.ch\/wp-content\/uploads\/2025\/12\/start-1024x586.jpeg 1024w, 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class=\"elementor-icon-wrapper\">\n\t\t\t<a class=\"elementor-icon\" href=\"https:\/\/capiwell.ch\/fr\/de-lidee-a-linvestissement-comment-les-start-ups-suisses-obtiennent-des-financements-sur-les-plateformes-de-crowdinvesting\/\">\n\t\t\t<i aria-hidden=\"true\" class=\"vamtamtheme- vamtam-theme-arrow-link-up\"><\/i>\t\t\t<\/a>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div data-elementor-type=\"loop-item\" data-elementor-id=\"992067\" class=\"elementor elementor-992067 e-loop-item e-loop-item-992807 post-992807 post type-post status-publish format-standard has-post-thumbnail hentry category-growth-stage-startups category-biotech-and-medtech category-healthtech tag-healthtech tag-medtech\" data-elementor-post-type=\"elementor_library\" data-custom-edit-handle=\"1\">\n\t\t\t<div class=\"elementor-element elementor-element-8e6c8a1 e-flex e-con-boxed e-con e-parent\" data-id=\"8e6c8a1\" data-element_type=\"container\" data-e-type=\"container\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t<div class=\"elementor-element elementor-element-c6f064d e-con-full e-flex e-con e-child\" data-id=\"c6f064d\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-4c3057f elementor-widget elementor-widget-theme-post-featured-image elementor-widget-image\" data-id=\"4c3057f\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"theme-post-featured-image.default\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/capiwell.ch\/fr\/regles-dinvestissement-pour-les-start-ups-suisses-dans-les-domaines-de-la-sante-et-des-technologies-medicales\/\">\n\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"586\" src=\"https:\/\/capiwell.ch\/wp-content\/uploads\/2025\/12\/medtech-1024x586.jpeg\" class=\"attachment-large size-large wp-image-992808\" alt=\"\" srcset=\"https:\/\/capiwell.ch\/wp-content\/uploads\/2025\/12\/medtech-1024x586.jpeg 1024w, https:\/\/capiwell.ch\/wp-content\/uploads\/2025\/12\/medtech-300x172.jpeg 300w, https:\/\/capiwell.ch\/wp-content\/uploads\/2025\/12\/medtech-768x440.jpeg 768w, https:\/\/capiwell.ch\/wp-content\/uploads\/2025\/12\/medtech-1536x879.jpeg 1536w, https:\/\/capiwell.ch\/wp-content\/uploads\/2025\/12\/medtech-18x10.jpeg 18w, https:\/\/capiwell.ch\/wp-content\/uploads\/2025\/12\/medtech-600x343.jpeg 600w, https:\/\/capiwell.ch\/wp-content\/uploads\/2025\/12\/medtech.jpeg 1920w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/>\t\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-8ecca38 e-con-full e-flex e-con e-child\" data-id=\"8ecca38\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-6b7874f small-post-heading elementor-widget elementor-widget-theme-post-title elementor-page-title elementor-widget-heading\" data-id=\"6b7874f\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"theme-post-title.default\">\n\t\t\t\t\t<p class=\"elementor-heading-title elementor-size-default\"><a href=\"https:\/\/capiwell.ch\/fr\/regles-dinvestissement-pour-les-start-ups-suisses-dans-les-domaines-de-la-sante-et-des-technologies-medicales\/\">Startups suisses dans les domaines de la sant\u00e9 et des technologies m\u00e9dicales : r\u00e8gles d'investissement<\/a><\/p>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-19c9ff1 e-con-full e-flex e-con e-child\" data-id=\"19c9ff1\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t<div class=\"vamtam-has-theme-widget-styles elementor-element elementor-element-4666be3 elementor-view-stacked elementor-shape-circle elementor-widget elementor-widget-icon\" data-id=\"4666be3\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"icon.default\">\n\t\t\t\t\t\t\t<div class=\"elementor-icon-wrapper\">\n\t\t\t<a class=\"elementor-icon\" href=\"https:\/\/capiwell.ch\/fr\/regles-dinvestissement-pour-les-start-ups-suisses-dans-les-domaines-de-la-sante-et-des-technologies-medicales\/\">\n\t\t\t<i aria-hidden=\"true\" class=\"vamtamtheme- vamtam-theme-arrow-link-up\"><\/i>\t\t\t<\/a>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div data-elementor-type=\"loop-item\" data-elementor-id=\"992067\" class=\"elementor elementor-992067 e-loop-item e-loop-item-992798 post-992798 post type-post status-publish format-standard has-post-thumbnail hentry category-growth-stage-startups category-ai-and-machine-learning category-engineering-and-deep-tech tag-innovation tag-singapore tag-switzerland\" data-elementor-post-type=\"elementor_library\" data-custom-edit-handle=\"1\">\n\t\t\t<div class=\"elementor-element elementor-element-8e6c8a1 e-flex e-con-boxed e-con e-parent\" data-id=\"8e6c8a1\" data-element_type=\"container\" data-e-type=\"container\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t<div class=\"elementor-element elementor-element-c6f064d e-con-full e-flex e-con e-child\" data-id=\"c6f064d\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-4c3057f elementor-widget elementor-widget-theme-post-featured-image elementor-widget-image\" data-id=\"4c3057f\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"theme-post-featured-image.default\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/capiwell.ch\/fr\/la-robotique-mimetique-mise-sur-la-dexterite-pour-lautomatisation-industrielle-future\/\">\n\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"586\" src=\"https:\/\/capiwell.ch\/wp-content\/uploads\/2025\/12\/mimics-1024x586.jpg\" class=\"attachment-large size-large wp-image-992799\" alt=\"Mimic Robotics SA\" srcset=\"https:\/\/capiwell.ch\/wp-content\/uploads\/2025\/12\/mimics-1024x586.jpg 1024w, https:\/\/capiwell.ch\/wp-content\/uploads\/2025\/12\/mimics-300x172.jpg 300w, https:\/\/capiwell.ch\/wp-content\/uploads\/2025\/12\/mimics-768x440.jpg 768w, https:\/\/capiwell.ch\/wp-content\/uploads\/2025\/12\/mimics-1536x879.jpg 1536w, https:\/\/capiwell.ch\/wp-content\/uploads\/2025\/12\/mimics-18x10.jpg 18w, https:\/\/capiwell.ch\/wp-content\/uploads\/2025\/12\/mimics-600x343.jpg 600w, https:\/\/capiwell.ch\/wp-content\/uploads\/2025\/12\/mimics.jpg 1920w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/>\t\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-8ecca38 e-con-full e-flex e-con e-child\" data-id=\"8ecca38\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-6b7874f small-post-heading elementor-widget elementor-widget-theme-post-title elementor-page-title elementor-widget-heading\" data-id=\"6b7874f\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"theme-post-title.default\">\n\t\t\t\t\t<p class=\"elementor-heading-title elementor-size-default\"><a href=\"https:\/\/capiwell.ch\/fr\/la-robotique-mimetique-mise-sur-la-dexterite-pour-lautomatisation-industrielle-future\/\">Mimic Robotics mise sur la dext\u00e9rit\u00e9 pour l'avenir de l'automatisation industrielle<\/a><\/p>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-19c9ff1 e-con-full e-flex e-con e-child\" data-id=\"19c9ff1\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t<div class=\"vamtam-has-theme-widget-styles elementor-element elementor-element-4666be3 elementor-view-stacked elementor-shape-circle elementor-widget 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elementor-widget-icon\" data-id=\"4666be3\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"icon.default\">\n\t\t\t\t\t\t\t<div class=\"elementor-icon-wrapper\">\n\t\t\t<a class=\"elementor-icon\" href=\"https:\/\/capiwell.ch\/fr\/comment-construire-un-portefeuille-suisse-de-startups-strategies-de-diversification-pour-les-investisseurs-en-phase-de-croissance\/\">\n\t\t\t<i aria-hidden=\"true\" class=\"vamtamtheme- vamtam-theme-arrow-link-up\"><\/i>\t\t\t<\/a>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div data-elementor-type=\"loop-item\" data-elementor-id=\"992067\" class=\"elementor elementor-992067 e-loop-item e-loop-item-992506 post-992506 post type-post status-publish format-standard has-post-thumbnail hentry category-growth-stage-startups tag-swiss-cleantech-startups\" data-elementor-post-type=\"elementor_library\" data-custom-edit-handle=\"1\">\n\t\t\t<div class=\"elementor-element 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data-elementor-post-type=\"elementor_library\" data-custom-edit-handle=\"1\">\n\t\t\t<div class=\"elementor-element elementor-element-8e6c8a1 e-flex e-con-boxed e-con e-parent\" data-id=\"8e6c8a1\" data-element_type=\"container\" data-e-type=\"container\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t<div class=\"elementor-element elementor-element-c6f064d e-con-full e-flex e-con e-child\" data-id=\"c6f064d\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-4c3057f elementor-widget elementor-widget-theme-post-featured-image elementor-widget-image\" data-id=\"4c3057f\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"theme-post-featured-image.default\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/capiwell.ch\/fr\/exit-strategies-for-swiss-startups-what-founders-and-investors-should-know-about-ipos-acquisitions-and-alternative-paths\/\">\n\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"586\" src=\"https:\/\/capiwell.ch\/wp-content\/uploads\/2025\/11\/article-Exit-Strategies-1024x586.jpg\" class=\"attachment-large size-large wp-image-992555\" alt=\"\" srcset=\"https:\/\/capiwell.ch\/wp-content\/uploads\/2025\/11\/article-Exit-Strategies-1024x586.jpg 1024w, https:\/\/capiwell.ch\/wp-content\/uploads\/2025\/11\/article-Exit-Strategies-300x172.jpg 300w, https:\/\/capiwell.ch\/wp-content\/uploads\/2025\/11\/article-Exit-Strategies-768x440.jpg 768w, https:\/\/capiwell.ch\/wp-content\/uploads\/2025\/11\/article-Exit-Strategies-1536x879.jpg 1536w, https:\/\/capiwell.ch\/wp-content\/uploads\/2025\/11\/article-Exit-Strategies-18x10.jpg 18w, https:\/\/capiwell.ch\/wp-content\/uploads\/2025\/11\/article-Exit-Strategies-600x343.jpg 600w, 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class=\"elementor-element elementor-element-4c3057f elementor-widget elementor-widget-theme-post-featured-image elementor-widget-image\" data-id=\"4c3057f\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"theme-post-featured-image.default\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/capiwell.ch\/fr\/les-options-dachat-dactions-pour-les-employes-expliquees-par-un-guide-suisse\/\">\n\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"586\" src=\"https:\/\/capiwell.ch\/wp-content\/uploads\/2025\/11\/article-Employee-Stock-1024x586.jpg\" class=\"attachment-large size-large wp-image-992557\" alt=\"\" srcset=\"https:\/\/capiwell.ch\/wp-content\/uploads\/2025\/11\/article-Employee-Stock-1024x586.jpg 1024w, https:\/\/capiwell.ch\/wp-content\/uploads\/2025\/11\/article-Employee-Stock-300x172.jpg 300w, https:\/\/capiwell.ch\/wp-content\/uploads\/2025\/11\/article-Employee-Stock-768x440.jpg 768w, 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data-e-type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-4c3057f elementor-widget elementor-widget-theme-post-featured-image elementor-widget-image\" data-id=\"4c3057f\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"theme-post-featured-image.default\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/capiwell.ch\/fr\/methodes-devaluation-des-startups-suisses-du-stade-de-lamorcage-a-la-serie-a\/\">\n\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"586\" src=\"https:\/\/capiwell.ch\/wp-content\/uploads\/2025\/11\/article-swiss-startup-1024x586.jpg\" class=\"attachment-large size-large wp-image-992559\" alt=\"\" srcset=\"https:\/\/capiwell.ch\/wp-content\/uploads\/2025\/11\/article-swiss-startup-1024x586.jpg 1024w, https:\/\/capiwell.ch\/wp-content\/uploads\/2025\/11\/article-swiss-startup-300x172.jpg 300w, https:\/\/capiwell.ch\/wp-content\/uploads\/2025\/11\/article-swiss-startup-768x440.jpg 768w, 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aria-hidden=\"true\" class=\"vamtamtheme- vamtam-theme-arrow-link-up\"><\/i>\t\t\t<\/a>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div data-elementor-type=\"loop-item\" data-elementor-id=\"992067\" class=\"elementor elementor-992067 e-loop-item e-loop-item-992483 post-992483 post type-post status-publish format-standard has-post-thumbnail hentry category-growth-stage-startups tag-swiss-tech-startups-raise-capital\" data-elementor-post-type=\"elementor_library\" data-custom-edit-handle=\"1\">\n\t\t\t<div class=\"elementor-element elementor-element-8e6c8a1 e-flex e-con-boxed e-con e-parent\" data-id=\"8e6c8a1\" data-element_type=\"container\" data-e-type=\"container\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t<div class=\"elementor-element elementor-element-c6f064d e-con-full e-flex e-con e-child\" data-id=\"c6f064d\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-4c3057f elementor-widget elementor-widget-theme-post-featured-image elementor-widget-image\" data-id=\"4c3057f\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"theme-post-featured-image.default\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/capiwell.ch\/fr\/zurich-vs-lausanne-ou-les-startups-technologiques-suisses-devraient-elles-lever-des-capitaux\/\">\n\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"586\" src=\"https:\/\/capiwell.ch\/wp-content\/uploads\/2025\/11\/article-Zurich-vs-Lausanne-1024x586.jpg\" class=\"attachment-large size-large wp-image-992561\" alt=\"\" srcset=\"https:\/\/capiwell.ch\/wp-content\/uploads\/2025\/11\/article-Zurich-vs-Lausanne-1024x586.jpg 1024w, https:\/\/capiwell.ch\/wp-content\/uploads\/2025\/11\/article-Zurich-vs-Lausanne-300x172.jpg 300w, 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srcset=\"https:\/\/capiwell.ch\/wp-content\/uploads\/2025\/11\/article-Understanding-Vesting-1024x586.jpg 1024w, https:\/\/capiwell.ch\/wp-content\/uploads\/2025\/11\/article-Understanding-Vesting-300x172.jpg 300w, https:\/\/capiwell.ch\/wp-content\/uploads\/2025\/11\/article-Understanding-Vesting-768x440.jpg 768w, https:\/\/capiwell.ch\/wp-content\/uploads\/2025\/11\/article-Understanding-Vesting-1536x879.jpg 1536w, https:\/\/capiwell.ch\/wp-content\/uploads\/2025\/11\/article-Understanding-Vesting-18x10.jpg 18w, https:\/\/capiwell.ch\/wp-content\/uploads\/2025\/11\/article-Understanding-Vesting-600x343.jpg 600w, https:\/\/capiwell.ch\/wp-content\/uploads\/2025\/11\/article-Understanding-Vesting.jpg 1920w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/>\t\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-8ecca38 e-con-full e-flex e-con e-child\" data-id=\"8ecca38\" data-element_type=\"container\" 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class=\"vamtam-has-theme-widget-styles elementor-element elementor-element-4666be3 elementor-view-stacked elementor-shape-circle elementor-widget elementor-widget-icon\" data-id=\"4666be3\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"icon.default\">\n\t\t\t\t\t\t\t<div class=\"elementor-icon-wrapper\">\n\t\t\t<a class=\"elementor-icon\" href=\"https:\/\/capiwell.ch\/fr\/comprendre-lacquisition-des-droits-comment-les-falaises-dun-an-et-les-calendriers-de-4-ans-ont-un-impact-sur-les-fonds-propres-de-votre-startup\/\">\n\t\t\t<i aria-hidden=\"true\" class=\"vamtamtheme- vamtam-theme-arrow-link-up\"><\/i>\t\t\t<\/a>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div data-elementor-type=\"loop-item\" data-elementor-id=\"992067\" class=\"elementor elementor-992067 e-loop-item e-loop-item-992472 post-992472 post type-post status-publish format-standard has-post-thumbnail hentry category-growth-stage-startups tag-cap-table\" data-elementor-post-type=\"elementor_library\" data-custom-edit-handle=\"1\">\n\t\t\t<div class=\"elementor-element elementor-element-8e6c8a1 e-flex e-con-boxed e-con e-parent\" data-id=\"8e6c8a1\" data-element_type=\"container\" data-e-type=\"container\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t<div class=\"elementor-element elementor-element-c6f064d e-con-full e-flex e-con e-child\" data-id=\"c6f064d\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-4c3057f elementor-widget elementor-widget-theme-post-featured-image elementor-widget-image\" data-id=\"4c3057f\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"theme-post-featured-image.default\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/capiwell.ch\/fr\/quest-ce-quun-cap-table-un-guide-essentiel-pour-les-fondateurs-et-les-investisseurs-suisses\/\">\n\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"586\" src=\"https:\/\/capiwell.ch\/wp-content\/uploads\/2025\/09\/article-What-is-a-Cap-Table-1024x586.jpg\" class=\"attachment-large size-large wp-image-992626\" alt=\"\" srcset=\"https:\/\/capiwell.ch\/wp-content\/uploads\/2025\/09\/article-What-is-a-Cap-Table-1024x586.jpg 1024w, https:\/\/capiwell.ch\/wp-content\/uploads\/2025\/09\/article-What-is-a-Cap-Table-300x172.jpg 300w, https:\/\/capiwell.ch\/wp-content\/uploads\/2025\/09\/article-What-is-a-Cap-Table-768x440.jpg 768w, https:\/\/capiwell.ch\/wp-content\/uploads\/2025\/09\/article-What-is-a-Cap-Table-1536x879.jpg 1536w, https:\/\/capiwell.ch\/wp-content\/uploads\/2025\/09\/article-What-is-a-Cap-Table-18x10.jpg 18w, https:\/\/capiwell.ch\/wp-content\/uploads\/2025\/09\/article-What-is-a-Cap-Table-600x343.jpg 600w, https:\/\/capiwell.ch\/wp-content\/uploads\/2025\/09\/article-What-is-a-Cap-Table.jpg 1920w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/>\t\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-8ecca38 e-con-full e-flex e-con e-child\" data-id=\"8ecca38\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-6b7874f small-post-heading elementor-widget elementor-widget-theme-post-title elementor-page-title elementor-widget-heading\" data-id=\"6b7874f\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"theme-post-title.default\">\n\t\t\t\t\t<p class=\"elementor-heading-title elementor-size-default\"><a href=\"https:\/\/capiwell.ch\/fr\/quest-ce-quun-cap-table-un-guide-essentiel-pour-les-fondateurs-et-les-investisseurs-suisses\/\">Qu'est-ce qu'un \"Cap Table\" ? Guide Essentiel pour les Fondateurs et les Investisseurs Suisses<\/a><\/p>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-19c9ff1 e-con-full e-flex e-con e-child\" data-id=\"19c9ff1\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t<div class=\"vamtam-has-theme-widget-styles elementor-element elementor-element-4666be3 elementor-view-stacked elementor-shape-circle elementor-widget elementor-widget-icon\" data-id=\"4666be3\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"icon.default\">\n\t\t\t\t\t\t\t<div class=\"elementor-icon-wrapper\">\n\t\t\t<a class=\"elementor-icon\" href=\"https:\/\/capiwell.ch\/fr\/quest-ce-quun-cap-table-un-guide-essentiel-pour-les-fondateurs-et-les-investisseurs-suisses\/\">\n\t\t\t<i aria-hidden=\"true\" class=\"vamtamtheme- vamtam-theme-arrow-link-up\"><\/i>\t\t\t<\/a>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-cdf9d35 elementor-hidden-desktop elementor-hidden-tablet elementor-hidden-mobile e-flex e-con-boxed e-con e-parent\" data-id=\"cdf9d35\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-183aa0f elementor-widget elementor-widget-text-editor\" data-id=\"183aa0f\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p><strong>Sources d'information<\/strong><\/p><ul><li>Caruso St John Architects, b\u00e2timent \u00e0 usage mixte Europaallee : https:\/\/carusostjohn.com\/projects\/europaallee-zurich<\/li><li>E2A Architects, Europaallee Plot H : https:\/\/www.e2a.ch\/projects\/europaallee-plot-h\/<\/li><li>Le b\u00e2timent commercial Europaallee du groupe ARX se trouve \u00e0 l'adresse suivante : https:\/\/www.arxgroup.ch\/projects\/europaallee\/<\/li><li>Wikipedia, Prime Tower Zurich : https:\/\/en.wikipedia.org\/wiki\/Prime_Tower<\/li><li>Page Wikip\u00e9dia sur le complexe r\u00e9sidentiel de Hardau : ttps:\/\/en.wikipedia.org\/wiki\/Hardau_(Zurich)<\/li><li>Page Wikipedia pour Sunrise Tower Zurich : ttps:\/\/en.wikipedia.org\/wiki\/Sunrise_Tower<\/li><li>Implenia, Green Village Gen\u00e8ve : https:\/\/www.implenia.com\/en\/projects\/green-village-geneva\/<\/li><li>Swissroc Asset Management, d\u00e9veloppement Arnold Winkelried Gen\u00e8ve : ttps:\/\/www.swissroc.ch\/projects\/arnold-winkelried\/<\/li><li>Page Wikip\u00e9dia du Lignon Gen\u00e8ve : ttps:\/\/en.wikipedia.org\/wiki\/Le_Lignon<\/li><li>Magazine ACROSS, Quartier du Flon Lausanne : https:\/\/www.across-magazine.com\/quartier-du-flon-lausanne<\/li><li>RDR Architectes, Flon Les Mercier : https:\/\/rdr.ch\/en\/project\/flon-les-mercier\/<\/li><li>SPG, Monribeau Lausanne : https:\/\/www.spg.ch\/projects\/monribeau\/<\/li><li>ArchDaily, Maison Mercier \u00e0 Lausanne : https:\/\/www.archdaily.com\/mercier-house-lausanne<\/li><\/ul>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>","protected":false},"excerpt":{"rendered":"<p>Growth-Stage Startup Investment Guide Making Sense of the Swiss Startup Scene and Spotting Opportunities How Switzerland\u2019s different innovation hubs create distinct micro-markets for growth-stage startups and shape how their equity is structured Why Swiss crowd-investing rules and ownership regulations matter (and how experienced investors navigate them smoothly) Where the smartest money is going right now&#8230;<\/p>","protected":false},"author":2,"featured_media":0,"parent":856,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"footnotes":""},"categories":[],"class_list":["post-992524","page","type-page","status-publish","hentry"],"_links":{"self":[{"href":"https:\/\/capiwell.ch\/fr\/wp-json\/wp\/v2\/pages\/992524","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/capiwell.ch\/fr\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/capiwell.ch\/fr\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/capiwell.ch\/fr\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/capiwell.ch\/fr\/wp-json\/wp\/v2\/comments?post=992524"}],"version-history":[{"count":62,"href":"https:\/\/capiwell.ch\/fr\/wp-json\/wp\/v2\/pages\/992524\/revisions"}],"predecessor-version":[{"id":992717,"href":"https:\/\/capiwell.ch\/fr\/wp-json\/wp\/v2\/pages\/992524\/revisions\/992717"}],"up":[{"embeddable":true,"href":"https:\/\/capiwell.ch\/fr\/wp-json\/wp\/v2\/pages\/856"}],"wp:attachment":[{"href":"https:\/\/capiwell.ch\/fr\/wp-json\/wp\/v2\/media?parent=992524"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/capiwell.ch\/fr\/wp-json\/wp\/v2\/categories?post=992524"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}