Short abstract:

This paper aims to contribute to this field of investigation by focusing on a pivotal aspect of the start-up/VC relationship: rounds of funding. More specifically, it scrutinizes the knowledge and expertise are mobilized and produced during these crucial moments.

Long abstract:

In recent years, Science and Technology Studies (STS) have witnessed a growing discussion surrounding the concepts of asset and assetization (Birch & Muniesa, 2020). However, little research has yet been conducted on the start-ups economy and the processes that lead venture capital funds (VCs) to view companies as assets. This paper aims to contribute to this field of investigation by focusing on a pivotal aspect of the start-up/VC relationship: rounds of funding. More specifically, it scrutinizes the knowledge and expertise are mobilized and produced during these crucial moments. I will draw on a preliminary fieldwork on a start-up project offering online music lessons. My analysis will be based on several interviews with the founder, document collection and participant observation in the preparation of a funding round.

I describe how different types of knowledge are gathered and assembled to craft a narrative about the company. I also explore what forms of knowledge are produced during this process and how their formalization, for example, through calculations or tables. Thus, I examine how the preparation for funding rounds contribute to giving an entrepreneurial project its consistency. Moreover, I show what is constituted as an asset and question how music and musical practices are considered from this point of view. In conclusion, I discuss this case study in a broader analysis of the emergence of the Music Tech sector and entanglements between finance and the music industry.