DIG Ventures, the London-based venture capital firm backing the enterprise and cloud infrastructure companies underpinning the future of AI, has announced the close of its third fund at €106 million ($120 million).
Fund III is backed by institutional LPs including Horsley Bridge, Sofina, Granite, and a leading US university endowment. The company also announced a number of entrepreneurial LPs backing the fund, including the founders of Slack, Datadog, Nord Security, Cast AI, Supercell and Dash0. In April 2025, DIG Ventures closed a €90 million Fund for early-stage startups.
“I don’t think there is another VC in Europe that offers true partnership the way that DIG does. They think like founders, are deeply connected in the enterprise fabric globally, and never waver from their conviction,” Mirko Novakovic, CEO, Dash0.
Founded in 2018 by Ross Mason, founder of the enterprise integration company MuleSoft, which Salesforce acquired for €5.3 billion ($6.5 billion), the firm has transitioned from serving as Mason’s family office to backing technical founders at the earliest stages of company formation across enterprise AI and cloud infrastructure.
The Fund III follows Fund II, DIG’s first institutional fund, and ranks in the top decile globally for its vintage and size, according to Carta benchmarking data. The Fund II portfolio includes Dash0, an AI-native observability platform that became a unicorn after its €94 million ($110 million) Series B in March 2026, and Taktile, an AI decisioning platform that raised a $110 million Series C led by Goldman Sachs.
Other Fund II portfolio companies include CUBE, a regulatory technology company used by more than 30 global financial institutions; AI HR platform Jack & Jill, which raised €34.68 million in a Series A round earlier this month; and AI orchestration platform Nexos.ai, founded by the founders of Nord Security.
The venture firm has also seen several exits, including the insurance infrastructure company Flock, acquired by Admiral; the data infrastructure platform Tower, acquired by MotherDuck; and the workload identity company Cofide, acquired by Keyfactor.
According to DIG’s internal data, 80% of Fund II companies went on to raise additional institutional capital within two years of DIG’s investment, and more than 90% of those companies entered the US market commercially within a year.
“Our conviction as a fund is clear: as development accelerates and differentiation erodes, the truly scalable, defensible companies will be the ones building the foundations on which wider enterprise software depends. These are the companies whose advantages compound as the cost of building software falls,” said Mason, founding partner at DIG Ventures.
He added, “In Europe, we are seeing huge waves of innovation on this frontier – the continent is not short of technical talent. But the challenge is turning technical advantage into global distribution. Having built and sold enterprise software globally, our operator-led team knows what it takes to cross that gap. We built DIG to help founders do exactly that. We guide our startups from day zero through to their first US customers, and beyond. With Fund III, we’ll steer a further generation of founders towards global growth.”
With an operator-led partner team including Mason, Melissa Klinger, former UK sales lead of MuleSoft, and Rytis Vitkauskas, founder of YPlan and a former partner at Lightspeed Venture Partners, DIG Ventures says Fund III will back 30 European pre-Seed and Seed-stage companies working across the critical AI control points: data, identity, compliance and orchestration layers.
The firm intends to lead most of the rounds it enters and has already begun deploying capital from the new fund. It also plans to continue helping founders from their earliest days through to their first US customers and beyond.