The MuleSoft Founder's Next Bet on Europe's Foundational Tech

Jan de Vries · 2026-10-01

If you're watching the global AI race, you know Europe's packed with brilliant technical talent. But the real question is, who helps those brilliant minds build global companies? Well, a London-based venture capital firm just made a $120 million wager on being the answer. DIG Ventures, founded by Ross Mason (the guy behind MuleSoft before Salesforce bought it for $6.5 billion), just closed its third fund. It's a serious signal of confidence, backed by big institutional names and a who's-who of founder angels. ### Why This Fund Stands Out It's not just about the money. This is an operator-led fund through and through. The partner team includes Melissa Klinger, who ran MuleSoft's UK sales, and Rytis Vitkauskas, a founder and former venture partner. They've been on both sides of the table. They know the grind from day zero to that first major US customer. That's the gap DIG is built to bridge. Ross Mason put it perfectly: "In Europe, we are seeing huge waves of innovation... But the challenge is turning technical advantage into global distribution." Their whole model is about shepherding founders across that chasm. ### A Proven Track Record Let's talk results, because their last fund tells a compelling story. Fund II wasn't just a collection of companies; it was a launchpad. According to their own data: - 80% of those startups raised more institutional capital within two years. - Over 90% commercially entered the US market within a year. That's not luck. That's a systematic approach to scaling. Their portfolio from Fund II reads like a hit list of infrastructure critical to the AI boom: - **Dash0**: An AI-native observability platform that hit unicorn status. - **Taktile**: An AI decisioning platform that raised a massive $110 million Series C. - **CUBE**: A regtech firm used by over 30 major financial institutions. They've also engineered successful exits, selling companies to giants like Admiral and Keyfactor. It proves they know how to build valuable, acquisition-worthy businesses. ### So, What's Next for Fund III? The plan is clear and focused. They're going to back about 30 European pre-Seed and Seed-stage companies. The sweet spot? Foundational layers for enterprise AI and cloud. Think about the control points: - Data infrastructure - Identity and security - Compliance frameworks - Orchestration platforms They intend to lead most rounds and have already started writing checks. The goal remains unchanged: guide founders from the earliest idea, through product-market fit, all the way to a dominant position in the US market and beyond. It's a fascinating moment. As the cost of building software plummets, the real value shifts to the robust, scalable platforms everything else relies on. DIG Ventures is betting that Europe's next generation of tech titans will be the ones building those essential foundations. And with $120 million and a deeply experienced team, they're putting their money where their conviction is.