Fortnite-Maker Epic Games Raises $1.78B

Epic Games, the maker of popular video game Fortnite, has raised $1.78 billion in new funding, the company announced Thursday.

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The figure includes the $250 million the company raised from Sony last month, and brings Epic’s valuation to $17.3 billion, according to a statement from the company.

Investors in the round include:

• Lightspeed Venture Partners
• Ontario Teachers’ Pension Plan Board
• Baillie Gifford
• Accounts managed by BlackRock, 
• Fidelity Management and Research Company
• David Tepper
• Funds and accounts advised by T. Rowe Price and Associates
• KKR (previous investor)
• Smash Ventures (previous investor)

CEO Tim Sweeney said in a statement, “Having the support of leaders in the financial community accelerates Epic’s efforts to build a new kind of digital ecosystem using real-time 3D technology, services that connect hundreds of millions of people, and a digital storefront that offers a fair business model. We are delighted to have them as part of the Epic family.” 

The Cary, North Carolina-based company was founded in 1991 but has raised significant sums of venture capital in recent years. Prior to the investment from Sony, its last venture investment was a $1.3 billion round in October 2018, per Crunchbase.

Epic Games makes games like “Fortnite” and “Infinity Blade,” and offers a collection of tools for game development called Unreal Engine.

Illustration:Li-Anne Dias