AIM-listed technology investor Blue Star Capital has raised £500,000 through a placing of more than 178.5 million new shares.

The Sussex-based firm, which focuses on new technologies and their applications within media and gaming, said the proceeds of the placing will be used for general working capital purposes.

It will also support existing investee companies where needed and will provide Blue Star flexibility to “look at new investment opportunities in the future”.

Tony Fabrizi, chief executive of Blue Star, took part in the placing and has subscribed for five million shares in the company.

He will now hold 1.6 per cent of the company’s enlarged issued share capital.

Blue Star's portfolio of companies include blockchain-based micropayments company SatoshiPay and biometric identification and authentication service provider Sthaler.

The investment firm is based in Crawley, West Sussex.