What Frst does

Frst Capital is a French venture capital management company (Société de Gestion de Portefeuille) headquartered in Paris and regulated by the AMF under number GP-19000001. Founded in 2019 by Pierre Entremont and Bruno Raillard — building on their 2015 Otium Venture partnership — Frst operates as a Day One seed investor providing a meaningful first check (average $2m) to European founders with global ambitions, often before the company is incorporated. The firm evaluates founders through a proprietary 'Ambition, Vision, Execution' (AVE) framework and a 'Unique Insight' investment thesis, codified through essays published on its 'Unique Insight' editorial platform.

Its core product is the Frst seed fund, currently investing through Frst 3, which closed at $100m in 2023 and brings cumulative capital deployed across funds to roughly $200m into 70 portfolio companies — including Pigment, Poolside, Owkin, Electra, Spiko, Tryriot, Attention, Orus, PayFit, Shippeo, Dalma and Doctrine, which have collectively raised $3.5b downstream. Decisions are made in roughly two meetings within 48 hours, and Frst positions itself as a decade-long partner to founders.

In November 2025 Frst opened a San Francisco office at 595 Pacific Avenue (Jackson Square) and added three SF-based Venture Partners — Sylvain Gariel, Grégoire Gambatto and Saturnin Pugnet — while retaining Paris as HQ. The go-to-market model is community- and content-led: founders reach Frst directly via the website or through network referrals, pre-qualified by the firm's thought-leadership content on founder evaluation and AI industry shifts. Revenue derives from management fees on pooled fund AUM (~$200m cumulative across vintages) plus carried interest on portfolio exits; the firm is founder-led, independent, and has no parent company or external controlling shareholder.

Name

Frst

Legal name

Frst Capital

Website

https://frst.vc

Company type

Private

Founded year

2019

Operating status

Operating

Headcount range

1–10 employees

Short description

Frst Capital is a Paris-based, AMF-accredited Day One seed venture capital firm founded in 2019 by Pierre Entremont and Bruno Raillard, investing average $2m first checks into European founders with global ambitions, currently deploying Frst 3 ($100m, 2023) and operating a new San Francisco office.

Ownership category

akta.pro rank

Headquarters

HQ city

Paris

HQ country

France

HQ region

Europe

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Infrastructure, Technology or R&D

Revenue model

1. Venture capital fund management (Frst Capital, AMF GP-19000001): Operates as a French VC fund manager (Frst Capital, AMF-accredited). Currently investing through Frst 3 fund, which raised $100m in 2023. Cumulative capital deployed across funds is $200m into 70 companies over 10 years.

Pricing tiers

Go-to-market motion1 record

Distribution channels2 records

Marketing channels5 records

Core offering

Frst is a Day One seed-stage venture capital firm that invests in European technology founders with global ambitions, writing meaningful first checks (averaging $2m) often before companies are incorporated, with decisions typically made in two meetings within 48 hours. The firm operates as an AMF-accredited French fund management company (Frst Capital, GP-19000001) and is currently deploying its Frst 3 fund ($100m raised in 2023), having cumulatively invested $200m into 70 companies across AI, fintech, biotech, enterprise software and climate. Complementary offerings include a San Francisco office and Venture Partner network supporting European founders expanding to the Bay Area.

Product overview

Frst is a French venture capital management company (Frst Capital) operating as a single, unified seed-stage investment platform rather than a multi-module SaaS architecture. Its core offering is the Frst Day One venture fund, currently investing through Frst 3 Fund (raised $100m in 2023), which has cumulatively deployed $200m into 70 companies. The portfolio spans Pigment (business planning), Poolside (AI for software development), Owkin (AI biotech), Electra (EV superchargers), Spiko (risk-free rate access), Tryriot (cyber security awareness), Attention (AI sales copilot), Orus (SMB business insurance), PayFit (payroll/HRIS), Shippeo (transportation visibility), Dalma (pet insurance), and Doctrine (legal database). Complementing the fund are two non-investment offerings: the Unique Insight editorial platform (publishing theses such as 'Architects are nibbling Software' and 'Ambition, Vision, Execution') and the SF-based Venture Partner program supporting portfolio founders expanding into the U.S. market from the new 595 Pacific Avenue office.

Differentiator

Problem solved

Functional benefit

Products and services

• Frst Day One seed investment program Core Day One seed-stage venture capital investment service for European technology founders with global ambitions. Average first check of $2m, with most decisions made in two meetings within 48 hours, often before companies are incorporated. Provided through Frst Capital, an AMF-accredited French fund management company (GP-19000001).
• Frst 3 Fund Third flagship investment fund of Frst Capital, closed at $100m in 2023, through which Frst is currently deploying Day One seed checks into European technology startups.
• Frst San Francisco Venture Partner program San Francisco-based Venture Partner network supporting Frst portfolio founders expanding to the US, anchored by the firm's new SF office at 595 Pacific Avenue (opened November 2025). Includes Venture Partners Gabriel de Vinzelles, Sylvain Gariel, Grégoire Gambatto and Saturnin Pugnet.

Quantifiable outcome

• Decision-making in 2 meetings and 48 hours, often before companies are incorporated.
• +3 more outcomes

Named customers12 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature2 records

Partnerships

Four partnerships are on record, tiered strategic sf-based venture partner and strategic - departing partner transitioning to venture partner role.

• Sylvain Garielstrategic sf-based venture partnerOthers · 12 November 2025Joined as SF-based Venture Partner in November 2025; seasoned entrepreneur at the crossroads of bio and AI, ex-cofounder and COO of DNA Script ($300m+ raised), seven years based in SF.
• Grégoire Gambattostrategic sf-based venture partnerOthers · 12 November 2025Joined as SF-based Venture Partner in November 2025; founder of Ctrl+G (AI training data, Frst portfolio), moved the company to SF a year ago; vocal advocate of SF for French founders via LinkedIn and YouTube (100k+ followers).
• Saturnin Pugnetstrategic sf-based venture partnerOthers · 12 November 2025Joined as SF-based Venture Partner in November 2025; founding member of World (world.org), a startup inspired by Sam Altman and valued at over $10bn; advisor to governments, startups and early-stage deep tech investor.
• Gabriel de Vinzellesstrategic - departing partner transitioning to venture partner roleOthers · 12 November 2025Departing full-time investing role in November 2025 to start a new company in SF; remains associated with Frst's future through a Venture Partner role.

Scale indicators6 records

Recent moves7 records

Expansion highlights5 records

Direct peers

• Speedinvest: European early-stage venture fund with multiple sector-focused vehicles covering seed and Series A. Comparable on stage, pan-European footprint, and operational support model.
• Seedcamp: European seed-stage venture fund investing at the earliest stages across the continent. Directly comparable to Frst on stage, geography, and ticket size, and has co-invested with Frst in rounds such as Uncovr.
• Hexa: Day One European venture studio/fund; co-founded by Frst partner Pierre Entremont's former colleagues at eFounders. Closest analog in terms of founder-first, Day One European seed strategy, and is a recurring co-investor.
• LocalGlobe: London-based seed investor with a Day One / pre-seed posture across Europe. Comparable to Frst in early entry, ticket size, and partnership-style engagement with founders.
• Kima Ventures: Paris-based, one of the most active French seed investors with a high-volume Day One approach. Comparable as a French-rooted seed fund targeting early-stage technology companies.
• Connect Ventures: London-based seed fund focused on European founders at Day One. Comparable stage, ticket size, and orientation toward founding teams with strong founder-market fit.
• redalpine: Zurich-based European venture fund with a Day One / seed orientation. Has co-led recent AI/health rounds alongside Frst (e.g., Helical), making it a closely comparable peer in stage and thesis.
• Frontline Ventures: European seed and Series A investor with a Day One orientation, particularly active in B2B SaaS and frontier tech. Comparable on stage, geography, and seed-to-A continuum.

Broad incumbents

• Index Ventures: Large multi-stage European-origin venture firm with broader AUM and stage range. Frequently co-invests with Frst at seed and Series A (e.g., Uncovr, Parallel), making it both a partner and a broader incumbent in the same ecosystem.
• Atomico: European-origin multi-stage venture firm. Operates at a larger scale than Frst and across later stages, but competes for the same European AI and software founder talent pool.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xx.com/frst_vc
• LinkedInlinkedin.com/company/frstvc/about

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles7 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments68 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Frst