Axa Venture Partners has thrown its weight behind a $70m fund raised by Frst, spun out of venture capital firm Otium Venture.

France-based venture capital firm Frst achieved a first close of its inaugural fund at €60m ($70m) today with limited partners including Axa Venture Partners, the corporate venturing subsidiary of insurance provider Axa. The fund, which has a target size of $90m, also secured the backing of the EU-owned European Investment Fund, French state-owned investment bank…

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