Epic Games’ billion-dollar funding round has concluded. The company is now worth $28.7 BILLION USD.
Epic Games has just announced the completion of its billion-dollar funding round. Epic Games has dubbed this as a “strategic investment” which will help both corporations pursue various opportunities for growth. However, this is not the first time Sony has made an investment in Epic Games. Sony had previously invested $250 Million into the company in July of 2020.
Other companies to invest in this round of Epic Games’ funding round include Fidelity Management & Research Company LLC, Appaloosa, GIC, Baillie Gifford, T. Rowe Price Associates, BlackRock, KKR, Ontario Teachers’ Pension Plan Board, AllianceBernstein, Altimeter, Franklin Templeton, Park West, and Luxor Capital.
Epic CEO Tim Sweeny said:
“We are grateful to our new and existing investors who support our vision for Epic and the Metaverse. 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,”
Epic CEO Tim Sweeny is still the shareholder of the highest authority. Moreover, Wilson Sonsini Goodrich & Rosati were the legal counsel overseeing this funding round while Credit Suisse and BoFA Securities fulfilled their roles as joint placement agents.
When asked about the additional investment of $200M, Sony President and CEO Kenichiro Yoshida said:
“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,”