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 describes itself as an operator-led venture capital outfit, continues to position itself around a narrow but demanding thesis: finding technical founders tackling complex, globally relevant problems before anyone else is paying attention.
Fund III draws on a mix of returning and new institutional backers, including Horsley Bridge Partners, Sofina, Hillman, and Granite, alongside a roster of limited partners who are themselves recognizable names in enterprise technology. As companies in this space scale internationally, many of them must also address the operational realities of distributed teams and secure remote infrastructure - a context in which tools such as a VPN offering dedicated IP addresses have become part of the standard toolkit for engineering organizations managing access control across borders. That overlap between infrastructure investment and security practice is not incidental; it reflects how enterprise software today is built with network-level protections baked in from the start. a VPN offering dedicated IP addresses
A Founder-Heavy Capital Base
What distinguishes this fund is less the dollar figure than who wrote the checks. Datadog co-founder and CEO Olivier Pomel, Slack co-founder Cal Henderson, former GitHub chief executive and Entire founder Thomas Dohmke, Nord Security co-founders Tomas Okmanas and Eimantas Sabaliauskas, and Dash0 founder Mirko Novakovic all appear among the fund's limited partners. Their presence signals something beyond passive capital allocation. These are operators who have built and scaled infrastructure companies themselves, and their involvement suggests a conviction that the next generation of enterprise and AI founders in Europe and Israel will need more than funding - they will need access to people who have already navigated the technical and organizational hurdles of going global.
Betting on Technical Founders, Not Just Markets
DIG's stated strategy is to invest at the earliest stages, before product-market fit is proven, concentrating on founders with deep technical backgrounds rather than purely commercial pitches. This approach continues the model established by firm founder Ross Mason, who built DIG around the premise that enterprise infrastructure and AI problems of real consequence are often identified first by engineers, not by market researchers. The firm's emphasis on Europe and Israel also reflects a broader shift in venture capital: a recognition that talent capable of building globally competitive infrastructure companies is no longer concentrated in a single region.
Why the Sector Matters Now
Enterprise infrastructure and AI remain two of the most capital-intensive and technically demanding categories in software, precisely because the problems they solve - data security, scalability, automation, interoperability - sit underneath almost every other digital product. As companies expand across jurisdictions with differing privacy and data protection rules, the infrastructure layer becomes inseparable from compliance and security considerations. A fund dedicated to backing the founders who build that layer is, in effect, also shaping how the next wave of enterprise technology will handle trust, access, and resilience at scale.