We report experimental and theoretical evidence that GaGeTe is a basic Z2 topological semimetal with three types of charge carriers: bulk-originated electrons and holes as well as surface state electrons. This electronic situation is qualitatively similar to the primer 3D topological insulator Bi 2 Se 3 , but important differences account for an unprecedented transport scenario in GaGeTe. High-resolution angle-resolved photoemission spectroscopy combined with advanced band structure calculations show a small indirect energy gap caused by a peculiar band inversion in the T -point of the Brillouin zone in GaGeTe. An energy overlap of the valence and conduction bands brings both electron-and hole-like carriers to the Fermi level, while the momentum gap between the corresponding dispersions remains finite. We argue that peculiarities of the electronic spectrum of GaGeTe have a fundamental importance for the physics of topological matter and may boost the material's application potential.A variety of materials where topology of the electronic structure plays a special role in transport properties is rapidly growing [1][2][3]. The envisioned applications of topological materials in novel devices and quantum information technology will be strongly influenced by the fine balance between their charge carriers of various types. In classic 3D topological insulators, like Bi 2 Se 3 , the transport properties are dictated by the non-degenerate massless topological surface states as well as the electron-like carriers from the bulk conduction band [4]. In 3D Dirac or Weyl semimetals, the Fermi surface is formed by single points of band degeneration (type I), or hole and electronic pockets touching in discrete points (type II) [3]. A bulk material with a gapped electronic spectrum combining a comparable number of both types of the bulk charge carriers with the spin-momentum locked topological surface states has not yet been accounted for. Here we put forward GaGeTe as the first example of such conceptually different electronic situation, i. e. a basic Z 2 topological semimetal.The layered compound GaGeTe was first synthesized and structurally characterized quite long ago [5,6], and its phonon structure [7], thermoelectric [8] and transport [9] properties were consequently studied. However, the first theoretical study of its bulk electronic structure has appeared very recently [10] and has sparked strong interest in the surface electronic structure of this material [11]. In [10] structural and electronic resemblance between a structure fragment of the layered GaGeTe bulk and a heavy analogue of graphene, germanene [12], has been highlighted. 2D materials with buckled honeycomb atomic arrangements, e.g. silicene, germanene, stanene, are promising for the realization of new devices. For instance, silicene demonstrates such advantages as high carrier mobility, excellent mechanical flexibility and compatibility with existing Si-based electronics. Most recent studies establish theoretically [11] and experimentally [13] that monolayers...