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Fortnite Maker Epic Games Nears Funding at $17 Billion Value

  • Epic owns Fortnite video game, Unreal Engine and Houseparty
  • T. Rowe, KKR, Baillie Gifford to participate in round
Attendees play Fortnite during the E3 Electronic Entertainment Expo in Los Angeles in 2019.
Attendees play Fortnite during the E3 Electronic Entertainment Expo in Los Angeles in 2019.Photographer: Patrick T. Fallon/Bloomberg

As people flock to video games and social networks to fight boredom during the pandemic, investors in the company that owns two of the biggest lockdown hits are betting that those habits will stick.

Startup Epic Games Inc., which developed battle game Fortnite and acquired networking app Houseparty, is close to raising a $750 million round of funding at a valuation of about $17 billion, according to people familiar with the matter.