Nom
LE PENDEVEN
Prénom
Benjamin
Nom
LE PENDEVEN
Prénom
Benjamin
-
TitreAssociate Professor
- Member of the Scientific Committee
- Expert-referent for the « Defence and economic security” committee
- Chair Holder - Finance for Innovation
photo_cv
Department
Département
Entrepreneurship, Strategy & Innovation
Research areas
Domaine de recherche
Innovation and Entrepreneurship
Entrepreneurial FInance
Social FInance / Impact Investing
Venture Capital
Skills
Finance
Entrepreneurship
Innovation
Biography
Biographie
Benjamin Le Pendeven is a professor of entrepreneurial finance at Audencia Business School. He is co-director of the "Finance for Innovation" chair and carries out numerous research projects with public institutions, private investors and businesses.
Diplomas
Doctorate, Business administration, Entrepreneurship
Conservatoire National des Arts et Métiers (CNAM), Paris
(2018)
Master of Science in Innovation and Technological Management
Université de Paris IX - Dauphine, Paris
(2013)
Master of Science in Finance
IAE Gustave Eiffel, Université Paris XII, Paris
(2012)
Bachelor in Entrepreneurship
Advancia Business School, Paris
(2011)
Experiences
Member of the Scientific Committee
FAIR (trade association about impact investing and sustainable finance)
Since 2024
Visiting researcher
ESADE Business School
2023 - 2023
Visiting researcher
University of Ghent
2023 - 2023
Visiting researcher
Politecnico di Milano
2022 - 2022
Consulting for ADEME - Call for Projects about Social Impact Bonds l'Appel à Manifestation d'Intérêt sur les Contrats à Impact (Social Impact Bonds)
ADEME
2019 - 2020
Chair Holder - Finance for Innovation
Audencia Business School, Nantes
Since 2018
Researcher
Université de Paris IX - Dauphine, Paris
2013 - 2013
Co-founder, Managing Director, and CFO
Softcorner, Paris
2013 - 2014
Project Manager
LinkMe Up, Paris
2013 - 2013
Investment Manager
Citizen Capital, Paris
2011 - 2012
Innovation Manager
Webhelp call-centers, Paris
2010 - 2011
Project Manager
CroissancePlus, Paris
2008 - 2010
Other experiences
Expert-referent for the « Defence and economic security” committee
IHEDN (Institut des Hautes Etudes de la Défense Nationale)
Since 2023
Visiting out
2021 - 2021
EM Lyon, : Cours externe Entrepreneurial finance
2020 - 2020
EM Lyon, : Cours externe Entrepreneurial finance
2020 - 2020
IEP Paris, France : Supervision - group of students in the Executive Master of Public Affairs at Science Po Paris for the European Investment Bank for a project « Mapping the Impact Investors in Europe »
2020 - 2020
Mines Paris Tech, France : Course "Innovation financing"
2020 - 2020
Conservatoire National des Arts et Métiers (CNAM), : Cours Externe "Financement de l'innovation"
2019 - 2019
IEP Paris, France : Supervision - group of students in the Executive Master of Public Affairs at Science Po Paris
2019 - 2019
EM Lyon, : Course "Entrepreneurial finance" for engineers
2019 - 2019
Mines Paris Tech, France : Cours externe - Financement de l'innovation
2019 - 2019
Conservatoire National des Arts et Métiers (CNAM), : Cours externe - Financement de l'innovation
2018 - 2018
EM Lyon, : Courses to engineers
2018 - 2018
Conservatoire National des Arts et Métiers (CNAM), : Course "Innovation financing"
2018 - 2018
Université de Paris IX - Dauphine, France : Course "Innovation financing"
2017 - 2017
Mines Paris Tech, France : Course "Innovation financing"
2017 - 2017
Conservatoire National des Arts et Métiers (CNAM), : Course "Innovation financing"
Publications
Published
BUFFA V., TIRA M., LE PENDEVEN B., (2024). New Development: From Social Impact Bonds to Impact Bonds: an outcomes-based framework.
Public Money and Management, 44 (1), 80-84
QUAS A., ALPEROVYCH Y., LE PENDEVEN B., (2024). The role of personality traits in entrepreneurial finance.
Venture Capital: An International Journal of Entrepreneurial Finance, 26 (2), 101-107
LE PENDEVEN B., SCHWIENBACHER A., (2023). Equity Crowdfunding: The Influence of Perceived Innovativeness on Campaign Success.
British Journal of Management, 34 (1), 280-298
BERRE M., LE PENDEVEN B., (2023). What do we know about startup-valuation drivers? A systematic literature review.
Venture Capital: An International Journal of Entrepreneurial Finance, 25 (4), 385-429
LE PENDEVEN B., BARDON T., MANIGART S., (2022). Explaining academic interest in crowdfunding as a research topic.
British Journal of Management, 33 (Special Issue in Honor of Mike Wright) (1), 9-25
ANDRIEU G., LE PENDEVEN B., LEBOEUF G., (2021). Equity Crowdfunding Success for Female Entrepreneurs: French Evidence.
Economics Bulletin, 14 (2), 417-431
GAREL A., LE PENDEVEN B., (2021). Calendar effects and crowdfunded projects.
Economics Bulletin, 41 (3), 1407-1417
LE PENDEVEN B., FENDT Jacqueline, MILOSEVIC Miona, (2020). Follow-on financing through syndication in the VC industry – a signaling perspective of VC human capital and fund characteristics.
Venture Capital: An International Journal of Entrepreneurial Finance, 22 (1), 35-69
LE PENDEVEN B., (2019). Social Impact Bonds: A New Public Management Perspective.
Finance Contrôle Stratégie, Special Issue n°5
LE PENDEVEN B., (2019). Financements innovants de l’innovation.
Finance Contrôle Stratégie, Special Issue n°5
LE PENDEVEN B., MARIAGE G., (2015). Non-banking : une alternative au financement bancaire pour les entrepreneurs.
Entreprendre et Innover, 2 (25), 8-20
LE PENDEVEN B., FOURNY T., (2013). Au-delà de la diversité, l’atypisme - enquête sur les managers atypiques.
Humanisme et Entreprise, 5 (315), 77-107
LE PENDEVEN B., (2013). Capital-investissement et entrepreneurs de la diversité : retour sur le cas Citizen Capital.
Entreprendre et Innover, 1 (20), 39-49
LE PENDEVEN B., (2013). Capital-investissement et entreprises de service : questionnements et déterminants des levées de fonds.
Revue du Financier, 35 (202), 41-60
LE PENDEVEN B., (2013). Le capital-investissement à vocation sociale existe-il en France ?.
Entreprendre et Innover, 1 (17), 44-56
LE PENDEVEN, B., GOUIFFÈS, C. (2024). Public Policy and Impact Investing in Europe. Palgrave Encyclopedia of Private Equity. Palgrave.
TIRA, M., LE PENDEVEN, B., LOUCHE, C. (2023). Environmental Impact Bonds: an innovative public-private approach to tackle climate challenges. Handbook of Environmental and Green Finance: Towards a Sustainable Future (pp. 436). World Scientific Publishing.
BUFFA, V., LE PENDEVEN, B. (2022). Social Impact Bonds : an Innovative Financial Mechanism for Sustainable Goals. In Recent Trends in Financial Engineering Towards More Sustainable Social Impact (Ed.). World Scientific.
GONZALEZ J., LE PENDEVEN B., QUAS A., DUBOCAGE E., (2025). Impact Investing for what? Exploring exit strategies for sustainable ventures.
MOREL C., LE PENDEVEN B., LEBOEUF G., (2024). Are reward-based crowdfunding platforms fostering cultural democracy?.
MOREL C., LE PENDEVEN B., (2024). Are reward-based crowdfunding platforms fostering cultural democracy?.
BUFFA V., PERIAC E., LE PENDEVEN B., (2023). From spontaneous to metaorganized hybrid governance..
GONZALEZ J., LE PENDEVEN B., CASANOVAS G., LOUCHE C., (2023). Building transnational nascent markets through policy support: The case of the European Investment Fund and impact investing.
CHAMPENOIS C., DEVIGNE M., LE PENDEVEN B., PUYOU F.-R., (2023). How to build cooperation amidst conflict? A dynamic study of Entrepreneurs-Venture Capitalists relations.
ZHOU J., LE PENDEVEN B., GIRARD-GUERRAUD C., (2022). The Role of Venture Capitalists in Deep-Tech Startups.
LE PENDEVEN B., MOREL C., LEBOEUF G., (2022). Does the digitalization of entrepreneurial finance democratize entrepreneurship?.
BUFFA V., PERIAC E., LE PENDEVEN B., (2022). From Spontaneous Hybrid Governance to Meta-Organized Hybrid Governance: The Case of Social Impact Bonds in France.
BUFFA V., PERIAC E., LE PENDEVEN B., (2022). Towards a Metagovernance of hybrid governance? Studying the Metagovernance of an hybrid arrangement over time: the case of Social Impact Bonds.
ZHOU J., GIRARD-GUERRAUD C., LE PENDEVEN B., (2022). The role of venture capitalists in deeptech startups.
BERRE M., LE PENDEVEN B., (2022). Valuation, business cycles and cash: Startups in the macroeconomic environment.
CHAMPENOIS C., DEVIGNE M., PUYOU F.-R., LE PENDEVEN B., (2021). Making conflicts cooperative in VC-entrepreneur relationships: voicing out and escalating dissent.
BERRE M., LE PENDEVEN B., (2021). Investor-firm Relationships in the Macro environment Valuation, Cyclical Growth, and Institutional Factors.
LE PENDEVEN B., MOREL C., LEBOEUF G., (2021). Does the digitalization of entrepreneurial finance democratize entrepreneurship?.
BUFFA V., PERIAC E., LE PENDEVEN B., (2021). Hybrid governance arrangement for hybrid financing: multiparadigm combination in the public sector for the financing of social innovation.
BERRE M., LE PENDEVEN B., (2020). A systematic review of the literature on start-up valuation drivers.
BUFFA V., LE PENDEVEN B., (2020). What do we know about the Social Impact Bonds: A Systematic literature Review.
LE PENDEVEN B., BARDON T., MANIGART S., (2020). Explaining the craze for crowdfunding as an academic research topic.
LE PENDEVEN B., BERRE M., WIRTZ P., (2019). A targeted review of literature on start-up valuation driving factors.
LE PENDEVEN B., BARDON T., MANIGART S., (2019). Academic Fashion and Crowdfunding: How to Explain the Craze for Crowdfunding as a Research Topic.
LE PENDEVEN B., SCHWIENBACHER A., (2018). Equity Crowdfunding & Innovation.
LE PENDEVEN B., (2018). From Corporate Venture Capital to Multi Corporate Venture Capital: An Exploratory Study.
LE PENDEVEN B., SCHWIENBACHER A., (2018). Equity Crowdfunding & Innovation.
LE PENDEVEN B., SCHWIENBACHER A., (2018). Equity Crowdfunding & Innovation.
LE PENDEVEN B., SCHWIENBACHER A., (2018). Equity Crowdfunding & Innovation.
LE PENDEVEN B., (2018). Social Impact Bonds: A New Public Management Perspective.
LE PENDEVEN B., (2017). From Corporate Venture Capital to Multi Corporate Venture Capital.
SÖDERBLOM A., LE PENDEVEN B., VERBOUW J., (2023). Practices of European Venture Capitalists.
LE PENDEVEN B., GIRARD-GUERRAUD C., (2022). Financement des spin-offs et des start-ups deeptechs : une meilleure compréhension du phénomène au service du développement de ces entreprises, Rapport Audencia/Région Pays-de-la-Loire, Nantes.
LE PENDEVEN B., MAGNIER C., (2017). Les sorties du capital-innovation en France.
LE PENDEVEN B., NICO Y., GACHET B., (2015). Social Impact Bonds, un nouvel outil pour le financement de l’innovation sociale, Etude Institut de l'Entreprise.
LE PENDEVEN B., ABDESSLAM M., (2015). Les nouveaux modes de financement des PME, study for Fondation pour l’Innovation Politique.
SÖDERBLOM A., LE PENDEVEN B., VERBOUW J., (2013). Practices of European Venture Capitalists.
Press articles
LE PENDEVEN B., LEANDRI N., (2021). Et la France inventa les contrats à impact écologique….
Le Courrier Financier, https://www.lecourrierfinancier.fr/responsabilite-sociale/opinion/exclusif-et-la-france-inventa-les-contrats-a-impact-ecologique-66763
BUFFA V., LE PENDEVEN B., (2021). Projet pilote et passage à l’échelle dans le cas de Development Impact Bonds en Inde et rôle d’un payeur final philanthropique.
Fonds B. Papers, https://www.fondsb.org/fr/publications/7-article-5-projet-pilote-et-passage-a-lechelle-dans-le-cas-de-development-impact-bonds-en-inde-et-role-dun-payeur-final-philanthropique
LE PENDEVEN B., (2020). Crise : vers un paysage contrasté des valorisations de start-up.
Les Echos, https://business.lesechos.fr/entrepreneurs/financer-sa-creation/0603437986489-crise-vers-un-paysage-contraste-des-valorisations-de-start-up-338668.php
LE PENDEVEN B., (2020). Why COVID-19 is not all bad news for start-up valuations.
Growth Business, https://www.growthbusiness.co.uk/why-covid-19-is-not-all-bad-news-for-start-up-valuations-2557683/
LE PENDEVEN B., BUFFA V., (2019). Entre espoir et prudence : revue de littérature sur les contrats à impact social.
Fonds B. Papers, https://www.fondsb.org/fr/publications/3-article-1-entre-espoir-et-prudence-revue-de-litterature-sur-les-contrats-a-impact-social
BUFFA V., LE PENDEVEN B., (2019). Le rôle des capitaux privés dans les mécanismes de paiement au résultat.
Fonds B. Papers, https://www.fondsb.org/fr/publications/4-article-2-le-role-des-capitaux-prives-dans-les-mecanismes-de-paiement-au-resultat
BUFFA V., LE PENDEVEN B., (2019). Contrats à Impact Social : succès ou feu de paille ?.
Fonds B. Papers, https://www.fondsb.org/fr/publications/5-article-3-contrats-a-impact-social-succes-ou-feu-de-paille-a
BUFFA V., LE PENDEVEN B., (2019). Development Impact Bonds - L’application du paiement au résultat dans le domaine du développement et de l’aide humanitaire.
Fonds B. Papers, https://www.fondsb.org/fr/publications/6-article-4-development-impact-bonds-lapplication-du-paiement-au-resultat-dans-le-domaine-du-developpement-et-de-laide-humanitaire
Broadcast
LE PENDEVEN B., (2024). Finance durable : le nerf de la transition écologique.
Professional conference
LE PENDEVEN B., (2025). Investissement à impact: comment sortir de sa niche?.
LE PENDEVEN B., (2024). Sommet de la mesure d'impact.
LE PENDEVEN B., (2023). La progression du capital-investissement en France.
LE PENDEVEN B., (2021). Conférence Early Metrics/CDC: Facteurs macroéconomiques et valorisation des start-ups.
LE PENDEVEN B., (2020). Contrats à impact social #3 – La relance des contrats à impact en France : contexte, objectifs et cas.
LE PENDEVEN B., (2019). Contrats à impact social #2 – DIB et SIB étrangers, quelles conclusions pour la France ?.
LE PENDEVEN B., (2019). Labo Fintech & Financement - La Fintech au service des entreprises de l’Ouest.
LE PENDEVEN B., (2019). Contrats à impact social #1 – Retour d’expérience & perspectives.
LE PENDEVEN B., (2017). Innovative financing tools for SMEs and innovations.
LE PENDEVEN B., (2017). Pratiques en matière de liquidité et du financement de la croissance des jeunes entreprises à fort potentiel de croissance.
LE PENDEVEN B., (2017). Social Impact Bonds Les contrats à impact social : enjeux, implications, et perspectives de développement en France.
Scientific activities
Reviewer for an academic journal
Small Business Economics
2022
Journal of Small Business Management
2022
Venture Capital: An International Journal of Entrepreneurial Finance
2021
Entrepreneurship & Regional Development
2021
Entrepreneurship Theory and Practice
2021
Qualitative Research in Financial Markets
2020
Management International
2020
Journal of Financial Management, Markets and Institutions
2020
Finance Research Letters
2019
Journal of Business Ethics
2019
Finance Contrôle Stratégie
2018
Revue Internationale PME
2018
Revue Française de Gestion
2018
Revue de l'Entrepreneuriat
2016
Entreprendre & Innover
2016
International Journal of Entrepreneurship and Small Business
2016
Guest Editor of an academic journal
Venture Capital
2022
Finance Contrôle Stratégie
2019
La Revue de l’Entrepreneuriat
Entreprendre & Innover
Associate Editor of an academic journal
Venture Capital: An International Journal of Entrepreneurial Finance
2021
Member of the board of directors of an academic association
Académie de l’Entrepreneuriat et de l’Innovation
2016
Member of the scientific board of an academic association
Membre du Comité Scientifique de la conférence du GT Innovation de l'AIMS
Paris Innovative Finance and FinTech Workshop
Awards and honors
Best Paper Award - Impact Investings Days 2025, 2025
Research funding with ADEME to work on the Environmental Impact Bonds, 2023
Research funding with ADEME to, 2021
Research Grant - Région pays-de-la-Loire for investing the question of the deeptech startups funding, 2021
Research funding with Region Pays-de-la-Loire to work on the funding of deeptech startups, 2020
Finalist - Best PhD thesis Award - Académie de l'Entrepreneuriat et de l'innovation 2018, 2019
Best Paper Award 3rd Entrepreneurial Finance Conference, Milano, Italy, 2018
Doctoral supervision
(2023) Maxens Berre : Valuation of start-up companies.
(2023) Vincenzo Buffa : The innovation process in the public sector From the experimentation to the diffusion of Impact Bonds.
Since 2021 M. TIRA : Environmental Impact Bonds.
Since 2021 J. GONZALEZ : Impact Investing structuration; market infrastructures, collective identity and sustainabiles exits.
(2021) R. BIANCHINI : Climate Change and Financial Markets.
(2024) P. KAZARIAN : Three essays on innovation financing, and corporate governance.