Paris-based venture capital firm Frst is raising its second fund, collecting $80M for seed-stage investing. The firm says half of its portfolio companies were sent term sheets before incorporating. The VC firm's first fund totaled approximately $100M. - Frst's liquidity providers include Bpifrance's Fonds National d'Amorçage 2, AXA Venture Partners, Isomer, and the European Investment Fund.
- The areas of focus for the new fund include medicine, defense, natural resource management, and education.
- The firm expects to invest between €1M and €3M in approximately 30 startups.
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