MuleSoft Founder’s DIG Ventures Closes €106 Million Fund III to Back Europe’s AI and Cloud Infrastructure Startups

London-based DIG Ventures has closed its third fund at €106 million ($120 million) to back early-stage companies building the infrastructure behind enterprise AI and cloud software. The fund is backed by institutional investors including Horsley Bridge, Sofina, Granite and a leading US university endowment, alongside entrepreneurs including the founders of Slack, Datadog, Nord Security, Cast AI, Supercell and Dash0.

Founded in 2018 by Ross Mason, the founder of MuleSoft, DIG Ventures began as Mason’s family office before evolving into an institutional venture capital firm. MuleSoft was acquired by Salesforce for $6.5 billion, and Mason now leads DIG alongside General Partners Melissa Klinger and Rytis Vitkauskas.

DIG focuses on pre-seed and seed-stage B2B SaaS, AI and cloud infrastructure startups, particularly companies developing the underlying technology needed as AI adoption expands. Fund III will target around 30 European companies working across what DIG describes as critical AI control points, including data, identity, compliance and orchestration.

The firm’s previous institutional fund, Fund II, closed at €90 million in 2025. Its portfolio includes AI-native observability company Dash0, which became a unicorn following a €94 million Series B in March 2026, as well as AI decisioning platform Taktile, which raised a $110 million Series C led by Goldman Sachs. Other portfolio companies include regulatory technology company CUBE, AI HR platform Jack & Jill and AI orchestration company Nexos.ai.

DIG has also recorded several exits from its portfolio, including insurance infrastructure company Flock, which was acquired by Admiral; data infrastructure platform Tower, acquired by MotherDuck; and workload identity company Cofide, acquired by Keyfactor. The firm says 80% of its Fund II companies went on to raise additional institutional capital within two years of DIG’s investment, while more than 90% entered the US market commercially within a year.

With Fund III, DIG plans to continue making early investments while providing operational support beyond capital. The firm says its operator-led team helps founders with product development, go-to-market strategy, hiring, fundraising and expansion into the US. The fund has already begun deploying capital and is expected to support another generation of European technical founders building infrastructure for the AI-driven software economy.