Fortnite developer Epic Games announced that it has completed a $1B USD financing round bringing the company’s equity valuation to $28.7B. Its latest investment round includes an additional $200M strategic investment from Sony Group Corporation. Following the financing round, Epic Games’ CEO Tim Sweeney remains the controlling shareholder of the company.
Further investors that participated in the investment include Appaloosa, Baillie Gifford, Fidelity Management & Research Company LLC, GIC, funds and accounts advised by T. Rowe Price Associates, Ontario Teachers’ Pension Plan Board, funds and accounts managed by BlackRock, Park West, KKR, AllianceBernstein, Altimeter, Franklin Templeton and Luxor Capital.
According to Sweeney, the investment will support the long-term vision for Epic Games metaverse by accelerating the developers work “around building connected social experiences in Fortnite, Rocket League, and Fall Guys, while empowering game developers and creators with Unreal Engine, Epic Online Services and the Epic Games Store.”
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