Sony, KIRKBI invest USD 2B in Epic Games

Epic Games on Monday announced a USD 2PHP 117INR 169EUR 2CNY 15 billion round of funding in advancing the company’s vision to build metaverse and support continued growth.

The investment round includes existing investors Sony Group Corporation and KIRKBI—the family-owned holding and investment company behind The LEGO Group—with each investing USD 1PHP 59INR 85EUR 0.95CNY 7 billion.

“As a creative entertainment company, we are thrilled to invest in Epic to deepen our relationship in the metaverse field, a space where creators and users share their time,” said Chairman, President, and CEO Kenichiro Yoshida of Sony Group Corporation.

“We are also confident that Epic’s expertise, including their powerful game engine, combined with Sony’s technologies, will accelerate our various efforts such as the development of new digital fan experiences in sports and our virtual production initiatives,” he added.

“This investment will accelerate our engagement in the world of digital play, and we are pleased to be investing in Epic Games to support their continued growth journey, with a long-term focus toward the future metaverse,” said KIRKBI CEO Søren Thorup Sørensen.

Epic only has a single class of common stock outstanding and remains controlled by its CEO and founder, Tim Sweeney.

Epic has a post-money equity valuation of USD 31.5PHP 1,849INR 2,670EUR 30CNY 229 billion and the closing of the investment is subject to customary closing conditions, including regulatory approvals.