Epic Games receives $2B cash infusion

Sony, Lego holding group invest $2B in Epic Games

“Fortnite” maker Epic Games announced a $2B round of funding to advance the company’s vision to build the metaverse and support its continued growth.

This round includes investments from existing investor Sony Group Corporation (SONY) as well as KIRKBI, the family-owned holding and investment company behind The LEGO Group, with each party investing $1B respectively.

Epic continues to have only a single class of common stock outstanding and remains controlled by its CEO and founder, Tim Sweeney.

“As a creative entertainment company, we are thrilled to invest in Epic to deepen our relationship in the metaverse field, a space where creators and users share their time.” said Kenichiro Yoshida, Chairman, President and CEO, Sony Group Corporation.

Tim Sweeney, Epic’s CEO and Founder

“We are also confident that Epic’s expertise, including their powerful game engine, combined with Sony’s technologies, will accelerate our various efforts such as the development of new digital fan experiences in sports and our virtual production initiatives.”

Epic’s post-money equity valuation is $31.5B.

The closing of the investment is subject to customary closing conditions, including regulatory approvals. Other investors in Epic Games include Tencent (TCEHY), KKR (KKR), and Disney (DIS).

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