Fortnite Creator Epic Games Could Be Worth $17 Billion In The Near Future

Epic Games, the creator of Fortnite and the extremely popular and lucrative Unreal Engine, is looking to raise a lot of money to push its total company value to new heights.

Bloomberg is reporting that Epic Games is "close" to raising $750 million in new venture capital funding that would put the company's total valuation at around $17 billion. That's up from $15 billion.

The new investors reportedly include Baillie Gifford and T. Rowe Price Group Inc. Companies that previously invested, including KKR & Co., will also be part of the new funding round, the report said.

Importantly, this new round of funding for Epic Games is not confirmed yet, so details could change. Epic Games declined to comment.

Some of Epic's other current investors include The Walt Disney Company and Endeavor Group Holdings, which owns the UFC. In 2012, Epic sold about 40 percent of the company to Tencent.

The new investors would be coming aboard just after Epic announced Unreal Engine 5, the company's latest iteration of its ubiquitous game engine technology. Additionally, Fortnite continues to ride high, with its latest event, The Device, proving to be extremely popular.

The Device led into Season 3, which features a guest appearance from Aquaman star Jason Momoa.

Additionally, Epic now owns the popular Houseparty app, which is enjoying a lot of growth and attention as people stay home during lockdowns and look for something to do.