This July, I visited Mongolia as a startup competition judge and speaker at the Central Asia regional forum, a feeder for the Startup World Cup spearheaded by Bill Reichert of Pegasus Ventures.
Gema Gerelsaikhan, managing partner of new seed fund, XZP, detailed progress in backing promising startups in Mongolia and Central Asia, a region with 86 million people, digital acuity and high VC on a per capital basis.
With partner Azbayar Altangerel, XZP has invested in VC Lab, Nomadic Bear Games in mobile gaming, and satellite company Ondo Space. The firm also runs an accelerator and an angel investment club.
While the economy depends on mining, there is decided tech talent that was on display during the contest.
The winner, CerebraAI, will compete in the global finals in San Francisco on October 4, for a chance to win a $1,000,000 investment prize.
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