MuleSoft founder’s DIG Ventures closes $120M fund for AI infrastructure
DIG Ventures, the London-based firm led by Ross Mason, founder of MuleSoft, has closed its third fund at $120M. Fund III will back around 30 European pre-seed and seed-stage startups building software infrastructure for AI.
Its institutional backers include Horsley Bridge, Sofina, Granite, and an unnamed US university endowment. Notable contributors also include the founders of Slack, Datadog, Nord Security, Cast AI, Supercell, and Dash0.
The fund focuses on what DIG calls control points, namely the data, identity, compliance, and orchestration layers that underpin other software. DIG plans to lead most rounds and has already begun investing.
Ross Mason explained: "These are the companies whose advantages compound as the cost of building software falls."
Mason founded MuleSoft, acquired by Salesforce for $6.5bn. He co-manages DIG with Melissa Klinger, formerly MuleSoft’s UK sales lead, and Rytis Vitkauskas, founder of YPlan and former partner at Lightspeed Venture Partners.
The previous fund, DIG’s first from institutional investors, backed observability startup Dash0, which reached a $1bn valuation with a $110m Series B in March.
According to DIG, Fund II ranked among the top 10% of funds worldwide of its age and size based on Carta data. They claim that 80% of Fund II companies raised more institutional money within two years of DIG’s investment, and over 90% launched a product in the US market within 12 months.
DIG aims to bridge this gap for European founders: "The continent is not short of technical talent. But the challenge is turning technical advantage into global distribution," said Mason.
Cristian Dina, CRO at The Next Web, contributed to this article. He has interviewed over 300 industry leaders and authored the book King of Networking. At 23, Cristian was featured on Forbes' 2025 30 Under 30 list.