Victory Square Stock Price, News & Analysis

Victory Square Technologies Inc. (OTC Pink: VSQTF) is a venture builder that gives public market investors access to early-stage technology companies through a single stock. Rather than operating as a traditional venture fund, Victory Square is a publicly traded company that buys, builds, and invests in emerging technology businesses and works with them for extended periods until they are ready to spin off or operate independently.

The company is headquartered in Vancouver, Canada and is listed on the Canadian Securities Exchange under the symbol VST, on the Frankfurt Exchange under 6F6, and on the OTC markets in the United States under VSQTF. It is described as owner-operated, with management holding a meaningful equity stake in the business.

Business Model and Venture Builder Approach

Victory Square’s stated business model is to buy, build and invest in early stage tech companies, typically spending up to about 48 months with each company before it is ready to stand on its own or be monetized. The company highlights two core elements of this model:

• Access to startups through an internal incubator and an international network of more than 250 founders, investors, technology accelerators, and venture capital firms across over 60 countries.
• Active involvement by management and advisors from incubation through monetization, including financial, operational, and strategic support to help portfolio companies scale globally.

Victory Square emphasizes that it drives value by monetizing investments and reinvesting the gains into new innovations, with the goal of building a self-sustaining business that can repeatedly fund and grow new technology platforms.

Portfolio Scope and Core Sectors

Across its disclosures, Victory Square describes a portfolio of more than 25 companies with founders based in regions including Ireland, Sri Lanka, Bulgaria, Australia, India, Brazil, the Middle East, and North America. The portfolio spans several technology-driven verticals, including:

• Digital health and wellness
• Artificial intelligence (AI) and machine learning (ML)
• Blockchain and Web3 infrastructure
• Virtual and augmented reality (VR/AR) and immersive technologies
• Gaming and sports-related digital experiences
• Climate and clean technology
• Pet health and wellness

Victory Square has also described its corporate portfolio as consisting of global companies using AI, VR/AR, and blockchain to disrupt areas such as fintech, insurance, health, and gaming.

Key Platforms and Portfolio Examples

Company updates highlight several notable holdings and platforms within the Victory Square ecosystem:

• Hydreight Technologies Inc. – A digital health company incubated by Victory Square that operates a mobile wellness and telehealth platform across the United States. Hydreight is described as a flagship digital health subsidiary and a leading operational driver, with a nationally scaled clinical network and recognition on rankings such as Deloitte Technology Fast 50 Canada, Deloitte Technology Fast 500 North America, and the Financial Times Americas' Fastest-Growing Companies lists. Victory Square participates through an equity interest and a recurring profit share from Hydreight’s VSDHOne platform.
• VSDHOne and Digital Health Infrastructure – Victory Square details a digital health infrastructure that includes telehealth and e-pharmacy capabilities across all 50 U.S. states, compliance frameworks for remote prescribing, diagnostics and at-home testing partnerships, and platforms intended to support direct-to-consumer health brands and clinics. The VSDHOne platform is described as a plug-and-play infrastructure enabling healthcare brands to access a nationwide, compliance-focused network.
• Insu Therapeutics Inc. – A biotechnology portfolio company developing a patent-pending oral insulin tablet using a buccal delivery system designed to mimic natural insulin absorption through the inner cheek and liver. Victory Square reports an equity stake in Insu and notes that preclinical work is ongoing, that Insu is pursuing an FDA 505(b)(2) regulatory pathway, and that first-in-human studies are targeted for a future period subject to regulatory review.
• Pawsible Ventures Inc. – A pet health platform in which Victory Square holds a significant ownership interest. Pawsible has launched a venture fund and studio focused on areas such as veterinary care software, diagnostics and biohealth, AI clinical tools, emotional wellness, and personalized supplements and pharmaceuticals for pets. Victory Square characterizes pet wellness as a natural extension of its digital health infrastructure.
• XR Immersive Tech – A portfolio company working with virtual and augmented reality and related technologies. Victory Square’s disclosures describe XR Immersive Tech as shifting into health-related intellectual property, including immersive diagnostics, digital twin models for metabolic and chronic conditions, 3D visualization of biomarker data, patient education tools, and simulation-based clinical workflows that complement telehealth and at-home testing.
• SafeTest Diagnósticos – A digital health presence in Brazil, described as expanding telehealth and diagnostic capabilities in that market, including at-home diagnostic testing, virtual consultations, and prescription and follow-up care.
• BlockX Capital Corp. – A subsidiary focused on blockchain, Web3, AI/ML, and cybersecurity solutions in sectors such as gaming, healthcare, entertainment, and sports. Victory Square has announced a transaction involving the sale of BlockX to Edge Total Intelligence Inc. for listed shares, as part of its capital recycling strategy.
• GameOn Entertainment Technologies Inc. – A portfolio company operating as a mobile-first, next-generation sports gaming business that integrates Web3 technology and partnerships with sports leagues. Victory Square has highlighted GameOn’s revenue growth and profitability in certain periods.

Additional portfolio companies mentioned in Victory Square’s materials include entities in digital health, online pharmacy, diagnostic testing, AI and ML, custom software development, Web3 and NFTs, sports betting and gaming, solar energy and renewables, fintech, insurance technology, and plant-based science.

Digital Health and Healthcare Focus

Recent corporate updates emphasize digital health as a major focus area. Victory Square cites U.S. healthcare spending levels and structural inefficiencies as context for its strategy of building infrastructure for telehealth, at-home testing, virtual care, and clinician-network enablement. Through Hydreight, VSDHOne, and related entities, the company describes platforms that support GLP-1 therapies, peptide medicine, hormone optimization, at-home testing, longevity programs, and other direct-to-consumer health offerings, along with compliance infrastructure involving medical directors, telehealth integrations, pharmacy relationships, and clinician networks.

Capital Allocation and Monetization

Victory Square’s disclosures outline a capital allocation approach that includes:

• Raising strategic capital to fund infrastructure for core platforms such as Hydreight and Victory Square Digital Health.
• Monetizing non-core assets, such as the sale of AI fintech tools to Yocale.ai and the sale of BlockX to Edge Total Intelligence.
• Using proceeds and portfolio gains to reinvest in new innovations and high-conviction holdings.
• Implementing a Normal Course Issuer Bid (NCIB) to repurchase and cancel a defined number of common shares, funded with cash on hand.

The company states that it evaluates monetization opportunities for portfolio positions and uses these transactions to recycle capital into areas with strong growth potential.

Investor Access and Positioning

Victory Square repeatedly describes itself as a way for public investors, including those who are not accredited, to gain exposure to early-stage technology companies without the long-term commitments typically associated with private venture funds. By holding shares in Victory Square, investors gain indirect exposure to a diversified group of technology businesses across multiple sectors and geographies. The company also notes that it integrates environmental, social, and governance considerations into its operations and highlights support for minority entrepreneurs and community organizations.

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