LEGO owners invest $1bn in Fortnite developer Epic Games

The LEGO Group’s parent company KIRKBI has invested a whopping $1bn in Epic Games, the developer and publisher behind Fortnite.

The investment forms half of Epic Games’ latest round of funding, with a further $1bn coming from Sony. It’s apparently all part of the company’s vision to ‘build the metaverse and support its continued growth’, with a shared aim among Epic, Sony and KIRKBI to ‘create new social entertainment exploring the connection between digital and physical worlds’.

Last week, the LEGO Group announced it’s teaming up with Epic Games to make the metaverse safer for kids. Exactly what that partnership will entail is still unclear, but we now know that it will at least involve a huge cash injection from the family-owned holding and investment company behind the LEGO Group, while the press release’s mention of ‘physical worlds’ could also signify new LEGO products are in store.

“Epic Games is known for building playful and creative experiences and empowering creators large and small,” said Søren Thorup Sørensen, CEO of 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,” added Tim Sweeney, CEO and Founder of 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.”

The latest round of funding will take Epic Games’ equity valuation to a towering $31.5bn. Click here for more on what to expect from the LEGO Group’s partnership with the company behind Fortnite.

Featured image: Epic Games

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