Epic Games, creator of the wildly popular battle royale game Fortnite, has raised a massive $1.25 billion funding round, and Vulcan Capital is getting in on the action.
The coalition of investors in the round includes companies that specialize in technology, entertainment, professional sports, e-sports, and live events. In addition to Seattle-based Vulcan, which is the investment arm of the late Paul Allen, the other investors include KKR & Co., Kleiner Perkins, Iconiq Capital, Smash Ventures, aXiomatic, and Lightspeed Venture Partners.
“We’re excited to partner with the finest minds in the financial, sports, and entertainment communities. 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,” Epic Games Founder and CEO Tim Sweeney said in a statement.
Bloomberg notes that Epic Games sold a 40 percent stake in the company to Chinese internet giant Tencent in 2012, but the company said in a press release that Sweeney continues to control the company.
Fortnite has been a smash hit, transcending the gaming world into the realm of overall popular culture. The game has been a money machine too, clearing $1 billion in sales within just a few months of its release and could reportedly be heading toward annual sales of $4 billion.
Epic Games is based in Cary, N.C. In addition to Fortnite, it is known for creating the Unreal Engine, a suite of tools for developers to build games and other virtual experiences.