Frst

Pierre Entremont and Bruno Raillard are co-founders and partners. Entremont began investing in 2015 after an ecommerce operating career, with earlier stops at eFounders, now Hexa, as well as Rocket Internet, IK Investment Partners and McKinsey; in 2012 he co-founded Les Pigeons, the French entrepreneurs' movement. Raillard launched Otium Venture in 2015, the vehicle that became Frst's track record, and previously worked at EY, Eight Advisory, Otium Capital and Gault&Millau. The investment team is deliberately small. Samuel Fitoussi joined as an associate after building an education consultancy for three years; he writes a column for Le Figaro and studied at the University of Cambridge. Lio Elalouf is an analyst who taught game theory and worked in accelerators and venture capital before joining.

Frst traces its track record to 2015, when co-founder Bruno Raillard launched Otium Venture, the predecessor vehicle to today's firm. Frst itself was established in 2019 and is accredited by France's Autorite des marches financiers under number GP-19000001. Its current vehicle, Frst 3, closed on $100 million in 2023. Across the ten-year track record the team reports deploying roughly $200 million into about 70 companies, which have collectively attracted some $10 billion in follow-on capital. The firm writes an average first cheque of $2 million and positions itself as the first institutional investor on the cap table for European companies with global ambitions, backing seed rounds and reserving capacity to follow on. It runs from 354 rue Saint-Honore in Paris with a second office at 595 Pacific Avenue in San Francisco, an unusual transatlantic footprint for a French seed fund of this size.