European venture capital firm DIG Ventures has successfully closed its third fund, securing $120 million. The capital is earmarked for early-stage startups across Europe that focus on developing AI-native enterprise and cloud infrastructure. The firm plans to lead approximately 30 investment rounds at the pre-seed and seed stages.
The new fund is supported by institutional investors, including Horsley Bridge, Sofina, Granite, and a prominent US university endowment. Additionally, the fund includes capital from notable entrepreneurs, such as the founders of Slack, Datadog, Nord Security, Cast AI, Supercell, and Dash0. DIG Ventures has already started deploying these funds.
Founded in 2018, the firm is led by Ross Mason, Melissa Klinger, and Rytis Vitkauskas. The team leverages their operational background to assist portfolio companies with international expansion and market strategies. Historical data from the firm's second fund indicates that 90 percent of its commercially launched companies entered the US market within 12 months.
The firm has previously seen successful exits, including the acquisition of Flock by Admiral for $109 million, as well as the sales of Tower and Cofide. DIG Ventures continues to prioritize infrastructure sectors such as data, identity, compliance, and orchestration, which they believe are critical as software development costs decline.
