Sony and LEGO Group invested $2 billion into Epic Games amidst a new goal to build metaverse content, the companies announced today.
The new round of investments where Sony and LEGO Group invested $2 billion into Epic Games come not long after Sony completed their initial $1 billion in funding to the games developer and publisher.
Epic’s post-money equity valuation is now $31.5 billion, and the closing of this investment is still waiting on regulatory approvals. Epic still maintains its only single class of common stock outstanding, which remains controlled by CEO and founder, Tim Sweeney.
The new investments and focus on metaverse content from Sony and LEGO Group also come not long after they formed a partnership to make the metaverse safe for kids.
“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.”