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Epic Games and Carlyle Group invest in disguise

Backing from global investment company and gaming platform specialist is set to underpin growth in virtual production, XR, broadcast, and fixed installations

Extended reality and virtual production specialist disguise has announced that global investment firm The Carlyle Group and Epic Games have become backers of the company.

The company said that the partnership consolidates “disguise’s position as the global ‘platform of platforms’ for the creation and delivery of visual content at any scale and location”, and enables the “next phase of its development”.

The investment from The Carlyle Group will help to support disguise’s efforts in virtual production, XR, events, installations, and broadcast, with Michael Wand, MD and co-head of the Carlyle Europe Technology advisory team, joining the company’s board. “The virtual production market is forecast to grow substantially, and we believe that disguise is uniquely placed to benefit from the accelerated demand for LED-based visual experiences and capture further market share,” said Wand. “In partnering with the disguise management team, we will look to leverage our significant expertise in scaling media technology companies as we support the company to become a global leader.”

The Group takes a majority stake in disguise while Epic Games takes a minority stake, building on an already established partnership. According to disguise, employees will also retain a significant minority share, led by CEO Fernando Kufer, with Founder Ash Nehru remaining the largest shareholder. Existing Private Equity partner Livingbridge will also reinvest in the transaction.