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Blue Star Capital to raise £900,000 for shift into eSports

Investments will be in two tranches with the placing to be carried out through two fundraises of £450,000 each.

Blue Star Capital -

Tech investor Blue Star Capital PLC (LON:BLU) is to raise up to £900,000 to fund a shift of direction into the esports arena.

Through an introduction by Jonathan Bixby, one of the original founders of bitcoin miner Argo Blockchain Plc (LON:ARGO), Blue Star Capital will invest about £150,000 each into six esports businesses.

WATCH: Blue Star Capital shifts focus to eSports as it invests in six new businesses

The six outfits will be spread throughout the world in the UK, USA, Canada, Australia and Singapore - and Blue Star intends for each to build up its own franchise in its particular area.

"Each of the companies will create or acquire a competitive esports franchise to generate revenue from tournament winnings, digital marketing opportunities, sponsorship, membership, merchandise and promotional tours and events," it said.

The aim is to build global brands.

Investments will be in two tranches with the placing to be carried out through two fundraises of £450,000 each.

Tony Fabrizi, Blue Star’s chief executive, has invested £20,000 in the first placing and will have a 2.3% stake, while Canadian venture capitalist Derek Lew, who is to become the new chairman, will invest £100,000.

Blue Star also updated on its existing portfolio, saying that SatoshiPay, 27.9% owned, intends to expand its services into the cross-border B2B payments vertical, which is currently estimated to be a £160bn market.

Blue Star also has a 1% take in shareholding in Sthaler, a biometric payments business that own Fingopay, which has recently launched a major initiative in Manchester.

Disruptive Tech, though, will likely be further written down.

Quick facts: Blue Star Capital PLC

Price: 0.113 GBX

Market: AIM
Market Cap: £3.55 m

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