Blue Star Capital joins Dynasty eSports fundraise
Technology, media and gaming investment company Blue Star Capital updated the market on its investee Dynasty eSports on Tuesday, reporting that Dynasty has raised SGD 3.1m (£1.73m) at a valuation of about £10m, to further develop its eSports Portal Management platform.
The AIM-traded firm has exercised its anti-dilution rights, and participated in the fundraise.
Prior to the placing, the company held around 13% of Dynasty, and invested a further £0.23m to maintain its holding.
Following the investment, the company said it had invested a total of £0.43m in Dynasty and, based on the value of Dynasty in the fundraise, the company's holding was valued at around £1.3m.
“We are delighted to be supporting Dynasty in its fund raise which should provide the company with sufficient capital to fully exploit its ambitious expansion plans,” said chief executive officer Tony Fabrizi.
“Dynasty is the second of our esports investments to raise money at a significant premium to our original investment and we look forward to updating the market on their progress as well as Guild and our other esports investments throughout the remainder of 2020.”