Blue Star Capital (LSE:BLU) has restructured its £1 million secured loan to blockchain payments portfolio company SatoshiPay by converting €543,634 of outstanding debt into two Simple Agreements for Future Equity (SAFEs). The agreements carry valuation caps of €3.5 million and €2.5 million, and, if fully converted at those levels, Blue Star expects its ownership interest in SatoshiPay to increase from roughly 50% to at least 58%. The company has also secured an option to invest up to an additional €500,000 in equity at a €10 million pre-money valuation.
Alongside the restructuring, SatoshiPay will repay €115,000 in cash, after which the loan will be considered fully settled and related security arrangements released. Blue Star said the transaction leaves it with adequate working capital through to the end of 2026 while removing the need for further fundraising in the current year. The revised structure also provides SatoshiPay with greater financial flexibility, allowing treasury resources to be directed toward Vortex-related initiatives and general working capital requirements, while strengthening Blue Star’s exposure to a core blockchain investment without immediate equity dilution at the portfolio company level.
More about Blue Star Capital
Blue Star Capital is an AIM-listed investment company focused on emerging technology sectors, particularly blockchain, digital payments and esports. Its portfolio includes SatoshiPay, a blockchain-based payments specialist; Dynasty Media & Gaming, a business-to-business gaming ecosystem provider; and Paidia, a gaming platform designed for female audiences.
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