Epic Games raises $2 billion from Sony, Lego’s parent company to build metaverse for kids

Epic Games, the developers of Fortnite and the Unreal Engine, have raised $2 billion in investment from Sony and the holding company behind the Lego Group. As a result, Epic Games has now been valued at $31.5 billion.

Sony and the Kirkbi investment company each invested around $1 billion dollars. The fundraising is meant to advance Epic Games’ efforts into building a metaverse for kids in partnership with Lego.

With this investment, Sony has tripled its stake in Epic Games. The company invested $250 million into Epic in 2020, and then another $200 million a year later.

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Epic Games recently launched Unreal Engine 5, their latest engine which will power games across developers. The company’s stock is privately held, and it is controlled entirely by CEO Tim Sweeney.