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 fund extends a strategy built on identifying technical founders at the earliest possible stage, before many institutional investors are willing to commit capital. It also signals continued confidence from both institutional backers and operators who have built and scaled technology companies themselves.
The firm describes itself as operator-led, a distinction that matters in a funding environment where founders increasingly weigh not just capital but the practical judgment that comes with it. Enterprise infrastructure companies, the kind DIG targets, often deal with problems that resemble those facing security-conscious consumers: how systems route traffic, mask identity, and maintain resilience under scrutiny. A startup building authentication tools or network security products might study how a provider that rotates its IPs maintains both performance and privacy at scale, since the engineering trade-offs are strikingly similar to those enterprise infrastructure founders face when designing distributed systems meant to operate globally and securely. a provider that rotates its IPs
Who Is Backing the Fund
Fund III drew commitments from returning and new limited partners including Horsley Bridge Partners, Sofina, Hillman, and Granite, alongside a roster of operators-turned-investors. The list of individual limited partners reads like a who's who of enterprise technology: 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. Their presence is not incidental. Each has built or led companies that wrestled directly with the technical and go-to-market challenges Fund III intends to fund, giving DIG a pool of advisers with direct, recent experience rather than abstract expertise.
Why Europe and Israel
Europe and Israel have produced a disproportionate share of technically rigorous infrastructure and cybersecurity companies relative to their size, yet founders in these regions have historically faced a thinner bench of early-stage investors willing to underwrite technically complex, globally ambitious bets. DIG's founder, Ross Mason, built the firm's thesis around closing that gap: finding engineers and technical operators before their companies have obvious commercial traction, then supporting them as they expand beyond their home markets. Fund III does not represent a change in direction so much as a scaling of that original approach, with more capital to deploy against a pipeline of founders tackling problems in data infrastructure, security, and applied AI.
What the Capital Signals
The $120 million figure is notable less for its size than for what it implies about investor appetite for infrastructure-layer AI companies, as opposed to consumer-facing applications built on top of large language models. Infrastructure investments tend to be slower-moving and less visible, but they often prove more durable, since they address the plumbing that other companies depend on. As enterprises continue to grapple with questions of data sovereignty, system reliability, and security architecture, funds like DIG's are positioning themselves to back the companies solving those foundational problems before they become widely recognized necessities.