Frst

Frst is a Paris-based seed-stage venture capital firm that invests primarily in French startups with global ambitions, focusing on early-stage growth and supporting ambitious entrepreneurs. Their mission is to back a new generation of world-class entrepreneurs by providing meaningful capital early—often before companies have a team or product—and fostering long-term partnerships. Frst typically invests between €1 million and €3 million per company, aiming to be the first institutional investor and to accelerate startups from inception to scale. The firm has deployed over $200 million into around 70 companies, which collectively have raised over $3.5 billion to date[1][3].

Founded in 2019 by Pierre Entremont and Bruno Raillard, who previously worked together at Otium Venture, Frst evolved from managing smaller funds to becoming the largest seed fund focused specifically on French startups. Their investment approach is characterized by rapid decision-making—often within 48 hours—and a strong alignment with founders’ ambitions. The firm has raised multiple funds, with its latest, Frst 3, closing at around €100 million ($110 million) in 2023, supported by notable backers such as the European Investment Fund and Bpifrance[1][2][3].

Core Differentiators

• Unique Investment Model: Frst invests very early, often pre-product and pre-incorporation, with an average first check of $2 million, enabling startups to accelerate quickly from day one[3].
• Strong Network: Backed by institutional investors and successful entrepreneurs from companies like PayFit, Owkin, and Shippeo, providing portfolio companies with valuable mentorship and connections[1].
• Track Record: Over 70 investments including notable startups such as Pigment, Electra, PayFit, and Shippeo, demonstrating a solid portfolio and successful exits or growth trajectories[1][3].
• Operating Support: Frst emphasizes a responsive, reliable partnership with founders, aiming for long-term collaboration beyond just capital injection[3].

Role in the Broader Tech Landscape

Frst rides the trend of early-stage venture capital focusing on deep tech and SaaS startups with global scalability, particularly from the French ecosystem, which has been gaining momentum as a European tech hub. The timing is favorable due to increased European institutional support for startups and growing international interest in French innovation. By providing early, substantial funding and hands-on support, Frst helps bridge the gap between nascent ideas and global market entry, thus strengthening the French and broader European startup ecosystem[1][3][4].

Quick Take & Future Outlook

Looking ahead, Frst is poised to continue expanding its influence as a leading seed investor in France, leveraging its growing fund size and network to back more ambitious founders. Trends such as AI, fintech, and biotech are likely to shape their portfolio focus, aligning with broader market dynamics. Their ability to make fast decisions and provide meaningful early capital positions them well to capture emerging opportunities and help French startups scale globally, reinforcing their role as a cornerstone of the French tech ecosystem[1][3].

In summary, Frst stands out as a pioneering seed-stage VC firm dedicated to empowering French entrepreneurs with global ambitions through early, substantial investment and deep founder support.