Assisting European technology leaders in scaling across international borders remains a major focus for London-based investment firm DIG Ventures. “The continent is not short of technical talent. But the challenge is turning technical advantage into global distribution,” Mason said. Demonstrating this commitment, more than 90% of the active product-stage startups in its second pool established a presence in the US market within a year of receiving backing. Performance metrics from Carta indicate that Fund II sits in the top 10% of globally peer-ranked funds of similar vintage and scale, with 80% of portfolio businesses securing further institutional capital within two years.
Building on these results, the investment vehicle has secured a new $120M pool for its third fund. The firm was established by Ross Mason, who previously created MuleSoft prior to its $6.5bn sale to Salesforce. Mason directs the entity in tandem with Melissa Klinger, the former UK sales leader at MuleSoft, alongside Rytis Vitkauskas, an alumnus of Lightspeed Venture Partners who founded YPlan. From its UK headquarters, the team has already begun issuing checks and plans to back approximately 30 early-stage European teams focused on pre-seed and seed rounds.
This latest $120M allocation targets foundational digital architecture for artificial intelligence, concentrating specifically on what the firm describes as control points: orchestration, compliance, identity, and data layers. As artificial intelligence makes writing code significantly faster and less expensive, DIG anticipates that application-layer software will lose its defensive moats, transferring durable enterprise value down to core infrastructure. “These are the companies whose advantages compound as the cost of building software falls,” said Ross Mason, founding partner at DIG Ventures. Limited partners in the vehicle feature Granite, Sofina, Horsley Bridge, an undisclosed US university endowment, and the creators of Supercell, Slack, Cast AI, Nord Security, Dash0, and Datadog.
The venture firm’s previous fund, which marked its initial draw of institutional LP capital, has already generated remarkable returns through its early portfolio selections. Among those investments was observability platform Dash0, which achieved a $1bn valuation after securing a $110m Series B check in March. Additionally, financial software specialist Taktile, which develops AI mechanisms for insurers and banks, closed a $110m Series C round led by Goldman Sachs Alternatives in June. Moving forward, DIG plans to serve as the lead investor for the majority of its upcoming portfolio transactions.
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