Blue Star Capital PLC (AIM:BLU), a micro-cap investor in esports and blockchain opportunities, saw its shares surge some 18% higher on Tuesday after it gave investors updates on investee companies Dynasty Gaming & Media and SatoshiPay.
The company, in a statement, highlighted that Dynasty recently formed a new partnership with Vera Media Group which has led to the ‘soft launch’ of Lightning Dragon, a new platform operating in the Philippines.
Lightning Dragon now has partnerships with PayMaya, a payments firm in the region, and global mobile gaming brand Razer, Blue Star noted.
The platform is expected to officially launch within the next two weeks, it added, and it anticipates the addition of a broader range of products and special offers from “leading games publishers”.
Elsewhere, Blue Star said SatoshiPay has been working with Benchmark International to establish its valuation in anticipation of a possible acquisition. Meanwhile, it described SatoshiPay's financial performance as robust, with a turnover of €2.93 million and a profit after tax of €587,000.
Another investee, Pendulum, was meanwhile said to have achieved “notable milestones” including the launch of ‘Spacewalk Bridge’ which is described as "crucial for blockchain interoperability" for the transfer of stablecoins.
In London, Blue Star Capital’s AIM-quoted shares rose by 11% to trade at 0.1p each – which values the company at just over £5 million.