EPIC Games Metaverse

Sony and KIRKBI Invest in Epic Games to Build the Future of Digital Entertainment.

Epic Games today announced a $2 billion round of fundraising to help the firm realize its aim of building the metaverse and sustaining its development.

The LEGO Group’s previous investor Sony Group Corporation, as well as KIRKBI, the family-owned holding and investment firm behind The LEGO Group, each invested $1 billion in this round. All three firms place a high importance on both producers and participants, with the goal of developing new forms of social entertainment that explore the intersection of the digital and physical worlds. Epic has only one class of common stock outstanding and is still owned by Tim Sweeney, the company’s CEO and founder.

“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 Kenichiro Yoshida, Chairman, President and CEO, 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.”

“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 Kenichiro Yoshida, Chairman, President and CEO, 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.”

“Epic Games is known for building playful and creative experiences and empowering creators large and small,” said Søren Thorup Sørensen, CEO, KIRKBI. “A proportion of our investments is focused on trends we believe will impact the future world that we and our children will live in. 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.”

“As we reimagine the future of entertainment and play we need partners who share our vision. We have found this in our partnership with Sony and KIRKBI,” said Tim Sweeney, CEO and Founder, Epic Games. “This investment will accelerate our work to build the metaverse and create spaces where players can have fun with friends, brands can build creative and immersive experiences and creators can build a community and thrive.” 

Epic’s post-money equity valuation is $31.5 billion. The closing of the investment is subject to customary closing conditions, including regulatory approvals.

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