Fortnite Maker Epic Is Said to Near Funding at $17 Billion Value

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.

Attendees play Fortnite during the E3 Electronic Entertainment Expo in Los Angeles in 2019.

Photographer: Patrick T. Fallon/Bloomberg

New investors T. Rowe Price Group Inc. and Baillie Gifford will contribute to the round, while existing investors including KKR & Co. will also participate, the ...