Observed Signal · Oct 1, 2026 · Funding · Source: Tech.eu (European Tech & Deals) · Impact: 3/5 · Sentiment: Positive
DIG Ventures Closes $120M Fund III for European AI Infrastructure Startups
European venture capital firm DIG Ventures, founded by MuleSoft's Ross Mason, has closed its third fund at $120 million (€106 million) to invest in early-stage companies building AI-native enterprise and cloud infrastructure. Backed by institutional LPs including Horsley Bridge, Sofina, Granite, and a leading US university endowment, as well as entrepreneur LPs from Slack, Datadog, Nord Security, Cast AI, Supercell, and Dash0, the fund will back approximately 30 European pre-seed and seed-stage companies focusing on AI control points such as data, identity, compliance, and orchestration. The firm aims to lead most rounds and leverage its operational experience to support portfolio companies with go-to-market strategies and US expansion. Notable Fund II portfolio companies include Dash0, which achieved unicorn status after a $110 million Series B, and Taktile, which raised a $110 million Series C led by Goldman Sachs.
The closure of a $120M VC fund dedicated to AI infrastructure startups signals continued capital flow into the AI technology sector, which is relevant to AdTech as AI infrastructure underpins many advertising and marketing technology innovations.
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Key Takeaways & Evidence Grounding
- DIG Ventures closed Fund III at $120 million (€106 million).
- Fund III will invest in ~30 European pre-seed and seed-stage AI infrastructure startups.
- Backed by LPs including Horsley Bridge, Sofina, Granite, and a US university endowment.
- Fund II portfolio includes Dash0 (unicorn after $110M Series B) and Taktile ($110M Series C led by Goldman Sachs).
- Past exits include Flock, Tower, and Cofide; 80% of Fund II companies raised additional capital within two years.
Connected Companies & Entities
9 Entities mapped“DIG Ventures is led by Ross Mason, founder of enterprise integration company MuleSoft, which was acquired by Salesforce for $6.5 billion....”
“Fund III is backed by limited partners including Horsley Bridge, Sofina, Granite and a leading US university endowment fund....”
“Its entrepreneur LPs include founders behind Slack, Datadog, Nord Security, Cast AI, Supercell and Dash0....”
“Its entrepreneur LPs include founders behind Slack, Datadog, Nord Security, Cast AI, Supercell and Dash0....”
“Its entrepreneur LPs include founders behind Slack, Datadog, Nord Security, Cast AI, Supercell and Dash0....”
“DIG Ventures is led by Ross Mason, founder of enterprise integration company MuleSoft, which was acquired by Salesforce for $6.5 billion....”
“DIG has also recorded several portfolio exits, including insurance infrastructure company Flock, acquired by Admiral for $109 million....”
“DIG has also recorded several portfolio exits, including insurance infrastructure company Flock, acquired by Admiral for $109 million....”
Ontology Mapping & Concepts
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