Sony invests $200 million in Epic Games

Today, Epic Games announced a $1 billion funding round, including a $200 million investment from Sony Group Corporation.

It’s the second time in less than a year Sony extends its relationship with Epic.

For the $1b investment in Epic, thirteen other companies joined Sony, including Appaloosa, Baillie Gifford, Fidelity Management & Research Company LLC, GIC, T. Rowe Price Associates, Ontario Teachers’ Pension Plan Board, BlackRock, Park West, KKR, AllianceBernstein, Altimeter, Franklin Templeton and Luxor Capital.

With the latest investment, Epic Games is now currently valued at USD $28.7 billion.

According to the post, the company known for the Unreal Engine and Fortnite only has “a single class of common stock outstanding.” Epic Games CEO Tim Sweeney is still “the controlling shareholder of the company.”

For Sweeney, the latest 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 continues to deliver revolutionary experiences through their array of cutting edge technologies that support creators in gaming and across the digital entertainment industry,” said Sony Group Corporation President and CEO Kenichiro Yoshida. “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.”

Sony invested $250M in Epic Games in July of 2020, obtaining a very small minority stake.

[Source]: Epic Games: Announcing a $1 Billion Funding Round to Support Epic’s Long-Term Vision for the Metaverse.