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VC FundAllocates capital directlyActive · deal in last 18 monthsLAST VERIFIED Oct 2026 · 5 SOURCES

Frst

Also known as Frst Capital, FRST CAPITAL

Paris and San Francisco day-one seed investor launched in 2019 by Pierre Entremont and Bruno Raillard; average first check $2M; investing from Frst 3 ($100M, 2023); 70 companies backed.

Paris seed fund launched in 2019 by Pierre Entremont and Bruno Raillard, who started seed investing as Otium Venture in 2015; not Otium Capital (otium-capital).

HEADQUARTERS
Paris, France
FOUNDED
2019
AUM
—
OUTSIDE CAPITAL
Yes
TEAM LISTED
4 people

FOCUS

STAGES
Pre-SeedSeed
SECTORS
Artificial IntelligenceSoftware & SaaSFintechBiotech & Life SciencesHealthTech
ASSET MIX
Venture capital
GEOGRAPHY
FranceEurope

WHAT IT IS

VC Fund. A fund manager investing capital raised from limited partners into startups.

ABOUT

Frst is a seed venture capital firm whose management company, Frst Capital, is AMF-authorised (GP-19000001) and based in Paris, with an office in San Francisco. Pierre Entremont and Bruno Raillard began seed investing together in 2015 as Otium Venture and launched Frst in 2019. It invests at day one, often before a company is incorporated, with an average first check of $2M, and says it has deployed $200M into 70 companies over ten years. It currently invests from its third fund, Frst 3, which raised $100M in 2023.

INVESTMENT THESIS

Writes a meaningful check at day one, often before the company exists, deciding in about two meetings and 48 hours, and aims for decade-long relationships with founders.

PORTFOLIO (12)

TEAM

  • Pierre Entremont
    Co-founder & Partner · source
  • Bruno Raillard
    Co-founder & Partner · source
  • Samuel Fitoussi
    Associate · source
  • Lio Elalouf
    Analyst · source

LINKS

FAQ

Frst is a VC fund based in Paris, France, founded in 2019.

Yes. Frst invests directly in private companies.

Frst invests at Pre-Seed and Seed stages in Artificial Intelligence, Software & SaaS, Fintech, Biotech & Life Sciences and HealthTech.

Key people at Frst include Pierre Entremont (Co-founder & Partner), Bruno Raillard (Co-founder & Partner), Samuel Fitoussi (Associate) and Lio Elalouf (Analyst).

Frst's investments include Poolside, Pigment, PayFit, Owkin, Huscarl, Doctrine, Bioptimus and Electra, among others.

The most recent publicly reported investment by Frst is Huscarl ($5.6M seed (lead), with Y Combinator and MS&AD Ventures), announced in Aug 2026.

Yes. Frst manages capital from outside investors.