Frontline Ventures has announced Seed fund III, a total of €70 million dedicated to B2B tech startups in Europe that aim to eventually scale abroad. Ten months ago the firm launched Frontline X, a growth-stage fund for US to Europe expansion. "When we looked at the data back in 2012, at the very start of Frontline, it was painfully clear that European entrepreneurs lacked the infrastructure and support to build a global business out of Europe,” said partner William McQuillan. “Today, Europe rightfully finds itself on top-tier US investors’ target list, but global expansion remains an important challenge to solve.” In the intervening years, Frontline Seed has backed over 70 B2B entrepreneurs on both sides of the pond and has had numerous successful exits (most recently, Pointy acquired by Google and Logentries acquired by Rapid7). Now the firm has €250 million funds under management, with offices in London, Dublin and San Francisco. LPs of the third seed fund include repeat investors European Investment Fund, Ireland Strategic Investment Fund and AIB, as well as ten post-exit software entrepreneurs from across Europe and the US.