Which private equity model for emerging countries? A proposal for an entrepreneurial capital investment inspired by the world of technology start-ups and based on the Timmons model: the case of the creation of a fund in Egypt.

Summary SMEs structure 90% of emerging economies. They are dual, both drivers of global activity and vulnerable because of excessive recourse to debt and a pervasive informal economy. We believe that private equity can consolidate and spread this economic traction that has become the prerogative of emerging nations alone. The question then arises: "Which private equity model for emerging countries? The methodology we have chosen is a response to the constraints of a still limited literature and difficult access to information. We therefore follow an inductive approach and study, through the theoretical model of Timmons, the creation of an investment fund in Egypt from 2008 to 2011. From this longitudinal clinical case, we induce a model of entrepreneurial investment capital, aimed at emerging countries and inspired by technological venture capital.