It is a disintegration of some kind, but without any difficult feelings. The team behind the Paris-based VC company Othium Venture You create a new management company called FRST And collecting a new fund.
But first, let's talk about Otium Venture. The Smartbox founder's family office, Pierre Otior Venture and Otium Brands, has established its emerging investment portfolio. Over the past four years, Otium Venture has participated in dozens of seed rounds, such as Payfit, Doctrine and Owkin. Representing about 45 million dollars in total (40 million euros).
With Frst, Otium Venture primarily creates a spinoff company without contacting the Pierre-Edouard Stérin office. The team is still led by Pierre Intermont and Bruno Rielard, followed by Judith Trebard and Gabriel de Vinzelis.
Frst is a traditional VC company with more than a few limited partners investing in the first Frst fund (yes, the first Frst fund). The company has already raised $ 67 million (€ 60 million) from the European Investment Fund, BFB, AXA Venture Partners, Elka Pananin, Miko Kodisuga from Supercell, Michel Benabo from Vint Brave, Stencils de Quirquez from Cartier and others.
In the end, First plans to reach $ 90 million (€ 80 million) with this fund.
Frst plans to invest at the initial level through investments ranging from € 0.5 million to € 3 million. They are focusing on Paris-based startups and say major technology companies will emerge here in France.
As for investments in Otium Ventures? Pierre-Edouard Stérin and the Frst team concluded a consulting contract so that they could continue their investments after the change.