DIG Ventures has closed its third fund at $120 million, deepening its bet on early-stage enterprise infrastructure and artificial intelligence startups across Europe and Israel. The firm, which operates with a distinctly operator-led philosophy, plans to put the capital behind technical founders tackling complex, globally relevant problems rather than chasing short-term consumer trends. Fund III extends an investment approach that founder Ross Mason established when DIG first launched, and it arrives at a moment when European enterprise technology is drawing renewed attention from investors who once favored Silicon Valley almost exclusively.
The fund's backers reflect that shift. Returning and new limited partners include Horsley Bridge Partners, Sofina, Hillman, and Granite, alongside a notable roster of operators-turned-investors. Datadog co-founder and CEO Olivier Pomel, Slack co-founder Cal Henderson, former GitHub CEO and Entire founder Thomas Dohmke, Nord Security co-founders Tomas Okmanas and Eimantas Sabaliauskas, and Dash0 founder Mirko Novakovic have all committed capital personally. That lineup is notable given the sectors these individuals built their reputations in: Nord Security, for instance, has shaped how millions of consumers think about digital privacy, encryption, and infrastructure resilience, including approaches like RAM-only server infrastructure that minimize data retention risk. Their presence as limited partners suggests DIG's thesis resonates with people who have already solved similar infrastructure and security challenges at scale.
Why Enterprise Infrastructure Still Matters
Enterprise infrastructure rarely generates headlines the way consumer apps do, but it underpins nearly everything else in the technology economy. Observability platforms, data pipelines, identity systems, and security tooling are the unglamorous layers that let larger applications function reliably. Investors who specialize in this category argue that founders solving infrastructure problems tend to build companies with durable technical advantages, because the barriers to replication are steep and customers are reluctant to switch once systems are embedded.
DIG's emphasis on technical founders fits this logic. Infrastructure and AI companies often require deep domain expertise before a product can even be demonstrated convincingly, which narrows the pool of credible founders but also raises the ceiling for what a well-executed company can achieve. This is particularly true in security and privacy-adjacent infrastructure, where trust, architecture decisions, and data-handling practices directly shape whether enterprise customers adopt a product at all.
A European and Israeli Focus
Geography is central to DIG's pitch. Europe and Israel have produced a disproportionate share of infrastructure and cybersecurity talent relative to their size, yet founders in these regions have historically had less access to early-stage capital tailored to enterprise technology than their counterparts elsewhere. By concentrating specifically on this corridor, DIG positions itself to work with founders from the earliest stages, before companies have proven market traction or secured larger institutional rounds.
The firm's bet is that the next generation of globally significant infrastructure and AI companies will increasingly originate outside the traditional hubs, built by engineers who understand both the technical depth required and the international markets they ultimately need to serve.