Blue Star investee Dynasty raises $5m in latest round

Esports and payment technology-focussed investment company Blue Star Capital updated the market on its investee company Dynasty eSports on Wednesday, reporting that Dynasty had completed its fundraising round, raising $5m (£3.59m) at a pre-money valuation of $45m.

The AIM-traded firm also exercised its anti-dilution rights, and invested $0.65m to maintain its holding in Dynasty at around 13% of its issued share capital.

To date, the company said it had invested about £0.9m in Dynasty and, based on its valuation of $50m in the fundraising round, its holding was valued at $6.5m.

“We are very pleased to have been able to participate in this fundraise for Dynasty,” said chief executive officer Derek Lew.

“The business, under the stewardship of CEO Matt Lodge, continues to go from strength to strength and we believe has an extremely bright future as esports continues its global expansion.”

At 1232 BST, shares in Blue Star Capital were down 1.39% at 0.18p.