"SOCRATUS" STUDIO SIGNS FIRST START-UP
Gund Investment LLC initiated "Socratus" studio business incubation center in September 2018. Their aim is to recruit knowledge-based start-ups/SMEs and helping them to build capabilities on the bases of system engineering and seed funding backed by "Gund Investment." Since it's founding, after much-needed preparation and team building, "Socratus" held its first pitching round early this year. On June 17 2019, "Socratus" studio has signed their first start-up project "Chatbot".
"Chatbot" is a start-up owned by "Anduud Lab," who is developing an AI-based chat assistant for the Mongolian market. With the help of "Socratus," we believe "Chatbot" and "Anduud Lab" can go further solidify their foundation as a business and accelerate their product development.
For more information, please visit "Socratus" studio at www.socratus.mn, www.chatbot.mn
GUND INVESTMENT LLC FINISHES IT'S RESTRUCTURING
The Annual Shareholders Meeting of MIH in 2016 had decided to restructure the company by splitting off. The decision had been taken based on the portfolio companies' inefficient value proposition which was due to the then current economic slowdown in the country and its shareholders' different viewpoints on the group's business philosophy and development priorities.
As it has agreed among the shareholders, the restructuring process has involved in two steps: changes in shareholders' structure at the subsidiaries' level first, which means current shareholders will be entitled to hold shares in each entity in a proportion of their shares in MIH. Later the shareholders had entered into negotiation among them and consolidated the holdings of particular companies by exchange their ownership in them. That has enabled shareholders to own and operate the businesses in their solely determined principles and ways.
Since 2016, the restructuring process has taken two and a half years and newly founded "Gund Investment" LLC which is now officially recognized as the successor of MIH Group, at this moment announcing that the restructuring process formally completed.