European VC firm Dig Ventures has raised a $120m third fund to invest in early-stage startups building the infrastructure underpinning AI.
The fund will focus on companies developing core technologies such as compute platforms, data infrastructure, and developer tools that enable AI applications to scale. Dig Ventures partner Haunted said the firm aims to back founders who are solving foundational problems rather than chasing hype.
Since its founding in 2007, Dig Ventures has backed companies including UiPath, which went public in 2021; OVO, which was acquired by Octopus Energy; and Thought Machine, now valued at over $1 billion after a Series D round.
The new fund brings Dig Ventures' total assets under management to approximately $730 million. The firm continues to target European founders building essential infrastructure for the next wave of technological innovation.
Source: Sifted · Summarized by HeadlinesBriefing