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The company behind Fortnite raises $1.25 billion at a valuation of $15 billion  

Fortnite

Epic games have got an investment of $1.25 billion from a group of private equity investors. The new minority stakeholders are Smash Ventures, KKR, aXiomatic Gaming, ICONIQ Capital, Vulcan Capital, Lightspeed Venture Partners, and Kleiner Perkins. The Earlier investors were Tencent, Endeavor and Disney.

KKR representative said that the company had a dedicated team and a group of passionate players. The new investors were thrilled to see to support the company.

Tim Sweeney, the Founder and CEO of Epic games stated that the new partnership would reinforce the company’s position in real time 3D technology and help in the way its gamers play, work and interact with the world. The overall sales of the company this year are expected to be $4 billion and the recent deal values the company at $15 billion, according to Wall Street Journal.

Tim Sweeney founded Epic in his parent’s basement in 1991 and Fortnite became phenomenon become a quick success when battle royale feature was added in 2017. Epic in 2012 for sold 40 percent to the Tencent Holdings, a Chinese internet company and since the sale the company developed more partnerships.  

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