Sky News can exclusively reveal that Epic Games, which was founded by Tim Sweeney 30 years ago, is finalising the terms of a $1bn fundraising just seven months after closing a previous round.

The company was valued at $17.3bn after a $1.78bn capital-raising announced last July, which included a $250m contribution from the Japanese entertainment giant Sony.

It was unclear whether any major new investors were backing the $1bn round, which includes a combination of primary and secondary share sales, they added.

Epic Games boasts an all-star share register including names such as BlackRock, Fidelity Management & Research, the private equity group KKR, leading tech investor Lightspeed Ventures and the Ontario Teachers’ Pension Plan.

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By Skynews