A new $100m (£77.7m) early-stage European software startup fund has launched from software-focused VC group DIG Ventures.
Specialising in seed and pre-seed investments, DIG Ventures will target European businesses in the software, AI and cloud infrastructure sectors.
The fund has deployed capital to 15 startups so far, including observability platform Dash0 and AI platforms Nexos.ai and PolyAPI.
“We see an enormous opportunity in Europe right now – this is the moment for the next generation of globally impactful tech companies to emerge from Europe,” said DIG Ventures partner Ross Mason.
“These founders combine deep technical brilliance with a powerful underdog mentality, but the bridge between technical excellence and commercial success is often missing. That’s where DIG comes in.
“We’re here to help founders turn high-potential technology into companies that scale globally.”
Mason previously founded MuleSoft, which was acquired by Salesforce for more than $6bn in 2018. Mason founded DIG Ventures that year with Melissa Klinger, the former UK sales lead at MuleSoft.
The latest fund has been backed by a handful of institutional LPs, including The Hillman Company, Granite Capital, Sofina and Grove Street. Additional funding came from a number of MuleSoft executives and Datadog founder Oliverier Pomel.
Leading the fund alongside Mason and Kilnger is Rytis Vitkauskas, a former partner at Lightspeed and founder of YPlan, which was acquired by Time Out, and Scott Grimes, who co-founded Uproxx, acquired by Warner Music.
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