Fortnite. Photo credit: Epic Games

Epic Games, the gaming studio best known for creating Fortnite, is close to raising $750 million in new funding that’ll value it at around $17 billion, according to a report from Bloomberg. New investors T. Rowe Price and Baillie Gifford are expected to participate in the new funding round alongside existing investors including private equity firm KKR, Bloomberg reports. A $17 billion valuation would represent a slight bump from the $15 billion valuation that Epic Games got when it last raised funding.

Notably, it was previously reported that Endeavor Group Holdings, the entertainment conglomerate that owns the Ultimate Fighting Championship (UFC) franchise, was looking to sell part of its Epic Games stake amid business struggles stemming from the coronavirus pandemic. Endeavor’s stake sale is likely to be part of Epic’s reported new funding round. Endeavor earlier invested in Epic Games. Other notable investors in the company include the likes of Disney, Kleiner Perkins, Lightspeed Venture Partners, and Vulcan Capital.

Since its founding almost three decades ago, Epic Games is known to have taken some $1.6 billion in outside funding.