Epic Games latest $1 billion funding round includes $200m from Sony, values company at $28.7 billion

This latest round of funding for Epic Games will go towards supporting its future growth opportunities.

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With major projects like the impending launch of Unreal Engine 5, the maintenance of Fortnite and other Epic titles, and the continued growth and improvement of Epic Games Store, Epic Games has a lot to continue to work on in the future. Fortunately, it just gathered an investment that should help keep things going. The gaming giant just announced completion of a $1 billion round of funding which included $200 million from Sony Group Corporation.

Epic announced the details of its latest $1 billion funding round in a press release on April 13, 2021. While Sony and Epic are no strangers to cooperation (including similar investment occurring in 2020), the recent $200 million strategic investment continues to foster the growth between the two companies. With the $1 billion, Epic Games’ company equity valuation rose to $28.7 billion. Other investment partners making up the $1 billion included Appaloosa, Baillie Gifford, Fidelity Management & Research Company LLC, GIC, 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.

Epic has had a handful of setbacks in the recent year, not the least of which is an ongoing legal battle with Apple over the latter’s alleged anti-competitive practices when it comes to iOS and its App Store. It has also been reported that Epic Games Store will suffer $300 million in losses on its exclusives as it continues to drive to improve the platform and its services, though Epic Games claims the service could be profitable as early as 2023 on its current track and planning.

Regardless, if Epic is hurting, it isn’t showing it. The company recently bought a mall as a new headquarters and acquired Fall Guys developers Mediatonic in addition to already having Fortnite and Rocket League among its popular multiplayer gaming stable. With Unreal Engine 5’s launch fast approaching, it seems there’s more reason than not for Epic to be well worth the investment - $1 billion worth, in fact.

News Editor

TJ Denzer is a player with a passion for games that has dominated a lifetime. When he's not handing out beatdowns in the latest fighting games, exploring video game history, or playing through RPGs with his partner, he's searching for new food and drinks in the constant pursuit of good times with good people inside and outside the South Texas area. You can also find him on Twitter @JohnnyChugs.

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