Game engine maker Unity Technologies has secured a $400 million investment from private equity firm, Silver Lake Partners.
Unity CEO John Riccitiello broke the news to Bloomberg, revealing that around half of the money will be used to allow employees and some early shareholders to cash out. The investment values Unity at around $2.6 billion, and still needs to be approved by regulators
“A big chunk of it is secondary and that’s because it makes sense to let employees buy cars,” he explained. “In terms of primary capital we don’t ultimately need all that primary capital — the capital is safety when we’re investing to grow as fast as we are.”
Unity’s popular game engine is used as the foundation for a huge roster of titles across multiple platforms, including hits like Pokemon Go, Inside, Firewatch, and Night in the Woods.
It’s also the engine of choice for a number of virtual reality developers, a fact that Riccitiello says wasn’t lost on investors.
“The second act that I think attracts a lot of investors and investor interest is the fact that we have about 70 percent of AR and VR content built on Unity,” he added. “We’ve got a first wave that is going really really well and we have a second one that is dominant.”
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2017