Early-stage investor Dig Ventures has raised a $100m fund aimed at fuelling the next generation of AI, cloud and software-as-a-service (SaaS) startups in Europe.
The London-based VC firm was founded in 2018 by Ross Mason, after he sold his SaaS company Mulesoft to Salesforce for $6.5bn.
Originally Mason’s family office, Dig has steadily grown into a full-fledged VC firm over the past seven years, and has invested in industry-leading startups like UK regtech giant ComplyAdvantage and Ukrainian unicorn People.ai.
“[We’re] not just providing capital, but offering the lived experience,” says Mason, promising portfolio companies the “Silicon Valley mindset, operational insight and network needed to go from zero to one.”
Mason’s team of investors includes former Mulesoft sales lead Melissa Klinger, former Lightspeed partner Rytis Vitkauskas and the founder of Uproxx, the pop culture website, Scott Grimes.
The Hillman Company, Granite Capital, Sofina and Grove Street are among the institutional LPs backing the new fund.
Dig plans to focus on startups based across Europe, but will consider startups located in Israel and the US. The team has already started deploying capital from the new fund, and invested in around 15 SaaS, AI and cloud startups.
“The Dig team aren’t just investors. They’re in the trenches with us, helping us navigate go-to-market, pricing and the sales process,” says Tomas Okmanas, cofounder of Dig Ventures portfolio company Nord Security. “Their support is second to none. A true founder’s fund.”
Read the orginal article: https://sifted.eu/articles/dig-ventures-vc-ai-tech-startup-saas/
