Dig Ventures, a European VC firm, has raised a $120m third fund to invest in early-stage startups building the infrastructure underpinning AI. The fund will focus on companies in Europe working on the foundational technology that AI systems rely on.
The new vehicle is dedicated to the infrastructure layer of AI, rather than applications built on top of it. Dig Ventures plans to deploy the capital across early-stage investments in this segment.
The firm's third fund gives it fresh capital to back startups in this area.