London-based DIG Ventures has closed its third fund at €106 million, equivalent to US$120 million, to support early-stage enterprise infrastructure and artificial intelligence companies across Europe and Israel. The firm, founded by MuleSoft creator Ross Mason, will tearly-stagearget approximately 30 companies in the data, identity, compliance, and orchestration layers that underpin enterprise AI. The new vehicle follows a measured step-up from its predecessor and brings together institutional capital and a prominent group of technology founders.
Fund Size and Backers
The €106 million fund is larger than DIG Ventures' second fund, which closed at €90 million. Institutional investors include Horsley Bridge Partners, Sofina, Hillman, Granite, and a US university endowment. The firm says the capital will be deployed at Pre-Seed and Seed stages, with an intent to lead most rounds it enters.
A Founder-Led Investor Base
In addition to institutional limited partners, DIG has assembled a deep bench of founder investors from major enterprise software companies. They include Datadog's Olivier Pomel, Slack's Cal Henderson, GitHub's Thomas Dohmke, Nord Security's Tomas Okmanas and Eimantas Sabaliauskas, and Dash0's Mirko Novakovic. The firm describes this group as an extension of its operator-led support model for portfolio companies.
Operator-Led Team
DIG describes itself as the only operator-led early enterprise venture capital fund in Europe, with a leadership team built around people who have either built or professionally backed enterprise infrastructure companies. Founding Partner Ross Mason founded MuleSoft and led it through IPO to its US$6.5 billion acquisition by Salesforce. General Partners Melissa Klinger and Rytis Vitkauskas bring go-to-market and venture investing experience from MuleSoft, Lightspeed Venture Partners, Target Global, and Summit Partners.
Track Record and Portfolio Momentum
DIG's second fund ranks in the top decile globally for its vintage and size, according to Carta benchmarking data. The firm reports that 80% of its portfolio companies raised follow-on capital within two years, and that more than 90% achieved US commercial traction within a year. Notable positions include observability unicorn Dash0, Goldman Sachs-backed Taktile, and regulatory technology provider CUBE, while Flock, Tower, and Cofide have delivered strategic exits.
Infrastructure Investment Thesis
DIG is concentrating on what it calls the critical control points of enterprise AI, namely data, identity, compliance, and orchestration rather than AI applications themselves. The firm argues that these infrastructure layers tend to accumulate durable value as adoption scales, while application layer differentiation faces pressure from commoditizing model capabilities. Ross Mason contends that the most scalable and defensible companies will build the foundations on which wider enterprise software depends.
Relevance for Founders
Pre-Seed and Seed founders across Europe and Israel now have a capitalized operator-led fund that plans to lead most rounds and help portfolio companies land US commercial traction. DIG's network of venture operators and founder limited partners is designed to reduce the distribution gap that often limits European technical startups. The firm has already begun deploying Fund III, although specific new investments have not been separately disclosed.
DIG Ventures has entered its third institutional fund with a clear focus on enterprise AI infrastructure and a support model built around experienced operators. Its latest €106 million close provides greater capacity while maintaining the firm's early-stage, lead investor approach. The fund's combination of institutional backing, founder expertise, and a documented early track record positions it as a notable source of capital for technical founders in Europe and Israel.