Epic Games secures an additional $1.25 billion in additional investment

Epic Games has secured $1.25 billion in additional funding.

The Fortnite developer and publisher’s new strategic investment partners include KKR, ICONIQ Capital, Smash Ventures, aXiomatic, Vulcan Capital, Kleiner Perkins, and Lightspeed Venture Partners. They join Tencent, Disney, and Endeavour as minority shareholders in Epic.

Epic hopes the investment will create "powerful partnerships with highly strategic investment firms and individuals at the forefront of technology, entertainment, professional sports, esports, and live events". While Epic has yet to expand on how the investment will be used, CEO Tim Sweeney said he hopes it will "reinforce its position of leadership in real-time 3D technology".

"We’re excited to partner with the finest minds in the financial, sports, and entertainment communities," said Sweeney. "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 has fundamentally changed the model for interactive entertainment under the company’s visionary leadership," added KKR’s Ted Oberwager. "Alongside a special group of investors, we are thrilled to support Epic’s dedicated employees and the passionate community of players and developers that lies at the heart of everything that Epic Games does."

The news comes just days after former CEO of the Games Developers Association of Australia (GDAA), Anthony Reed, announced he had stepped down from his position to work with Epic Games and establish a new office for the Fortnite developer in Australia and New Zealand. While Reed did not expand on what Epic’s plans are, nor what his new role will be, he promised there would be "a lot of news" soon.

In other Fortnite news, Streamer Tyler "Ninja" Blevins is hosting a 12-hour Fortnite livestream from Times Square, New York, this New Year’s Eve. "This is going to be a NYE in Times Square like you’ve never seen before," Ninja said, talking about the upcoming event.