DIG Raises $120 Million for European AI Infrastructure

DIG Ventures in London has completed its third fundraising round, raising $120 million, equivalent to approximately €106 million, aimed at European pre-seed and seed-stage AI-native enterprise software and cloud infrastructure.

Institutional investors include Horsley Bridge, Sofina, Granite, and a top U.S. university endowment fund. Founders contributing include those behind Slack, Datadog, Nord Security, Cast AI, Supercell, and Dash0. The fund plans to cover about 30 European companies, taking the lead in most rounds, with funds already being deployed.

Investments are focused on data, identity verification, compliance, and orchestration, as AI makes software faster and cheaper, these control layers will determine whether enterprise software can be built and distributed. The company refers to this layer as the "engine room" of AI, rather than application layer products.

The fund is managed by Ross Mason, Melissa Klinger, and Rytis Vitkauskas. Mason is the founder of enterprise integration company MuleSoft, which was acquired by Salesforce for $6.5 billion; Klinger was the UK sales lead at MuleSoft; Vitkauskas founded YPlan and was a partner at Lightspeed Venture Partners. DIG was established in 2018.

The second phase was its first institutional fund, ranking in the global top 10 according to Carta's same-year, same-scale benchmarks. The portfolio includes the AI observability platform Dash0, which reached a $1 billion valuation after a $110 million Series B round in March 2026; decision platform Taktile, which raised $110 million in a Series C round led by Goldman Sachs; and regulatory technology CUBE, whose products are used by over 30 global financial institutions. Other investments include Jack & Jill and Nexos.ai. In April 2025, it completed a €90 million early-stage fund.

Exits realized include: insurance infrastructure Flock acquired by Admiral for $109 million, data infrastructure Tower acquired by MotherDuck, and workload identity platform Cofide acquired by Keyfactor.

Market-wise, this fundraising completion drives primary market investments, not secondary transactions. Buyers include endowment funds, family office LPs, and exited founders, while sellers are early European companies relinquishing seed round leadership. Money flows from U.S. institutional accounts to European data, identity, compliance, and orchestration layers. Beneficiaries are control layer companies that can secure leading checks, while those merely co-investing in the same round and projects stuck at the application layer without infrastructure pricing power face pressure.

Source: Public Information