Epic Games has completed a $1 billion round of funding that will allow the company to support future growth opportunities, including an additional $200 million strategic investment from Sony Group Corporation, the company announced.
“[The investment] builds on the already close relationship between the two companies and reinforces their shared mission to advance the state of the art in technology, entertainment, and socially-connected online services,” Epic Games said.
Sony Group Corporation previously invested $250 million in Epic Games back in July 2020 to acquire a minority stake in the company.
Other investment partners 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.
“We are grateful to our new and existing investors who support our vision for Epic and the Metaverse,” Epic Games CEO and founder Tim Sweeny said in a statement. “Their investment will help accelerate our 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.”
Sony Group Corporation chairman, president, and CEO Kenichiro Yoshida added, “Epic continues to deliver revolutionary experiences through their array of cutting edge technologies that support creators in gaming and across the digital entertainment industry. We are excited to strengthen our collaboration to bring new entertainment experiences to people around the world. I strongly believe that this aligns with our purpose to fill the world with emotion, through the power of creativity and technology.”
Epic Games’ equity is now valued at $28.7 billion.