Epic Games, makers of Fortnite, Rocket League, and Fall Guys, on April 13, 2021 announced another $1 billion round of funding from more than a dozen sources, including another $200 million from Sony Group Corporation. Sony already invested $250 million in Epic Games in the summer of 2020. CEO and founder Tim Sweeney remains the single controlling shareholder, however.
The new investment represents less than 3.5% of the company, putting Epic s valuation at $28.7 million.
Even after these investments, Epic CEO Tim Sweeney has held onto enough of the company to remain the controlling shareholder.
Sony was a major contributor in both rounds, putting in $250 million last year and following it up with another $200 million in the round announced today.
Other investors in this round included Appaloosa, Baillie Gifford, Fidelity Management & Research Company LLC, GIC, funds and accounts advised by T. Rowe Price Associates, Ontario Teachers Pension Plan Board, and funds and accounts managed by BlackRock, Park West, KKR, AllianceBernstein, Altimeter, Franklin Templeton and Luxor Capital.
Sony Group has made another $200 million investment in Epic Games, the developer of
Fortnite and the Unreal Engine used increasingly in Hollywood production, as part of a $1 billion round of funding for the company.
Epic said the new financing values it at $28.7 billion. It added that the firm continues to have only a single class of common stock outstanding, and CEO Tim Sweeney remains the controlling shareholder of the company.
The deal comes after Sony last year acquired a $250 million minority stake in Epic Games. Sony has made an additional strategic investment of 200 million U.S. dollars in Epic through its wholly-owned subsidiary, Sony Corporation of America, the conglomerate said in a regulatory filing. By strengthening the already close relationship between the two companies through this additional investment, Sony will further promote efforts across the Sony Group’s businesses to explore collaborative opportunities leading to new value creation, and strive to