Epic Games has become the beneficiary of $1.25 billion in additional funding.
According to MCV, the Fortnite and Unreal Engine developer has acquired the huge funding injection by adding a raft of new strategic partners which encompasses ICONIQ Capital, KKR, Smash Ventures, aXiomatic, Vulcan Capital, Kleiner Perkins and Lightspeed Venture Partners. Disney, Tencent and Endeavour are already minority shareholders in the developer/publisher, which has clearly become the financial world’s new hottest property.
Epic said that it hopes the investment will create: “Powerful partnerships with highly strategic investment firms and individuals at the forefront of technology, entertainment, professional sports, esports, and live events.” While the company’s CEO Tim Sweeney added: “This reinforces Epic’s position of leadership in real-time 3D technology, and accelerates our ability to improve the way people play, work, and interact with the world.”
Ted Oberwager, of investment company KKR, said: “Epic Games has fundamentally changed the model for interactive entertainment under the company’s visionary leadership. Alongside a special group of investors, we are thrilled to support Epic’s dedicated employees and the passionate community of players and developers that lies at the heart of everything that Epic Games does.”
As yet, it is unclear what Epic Games intends to do with its newly acquired cash, although it is in the process of setting up a new office covering the Australia/New Zealand market. One thing is for sure, though: the juggernaut which is Fortnite won’t be slowing down any time soon. To keep abreast of Epic Games-related news, watch the company’s website.