There's a post on Reddit talking about that. There's an article stating they already raised $2million+ and after that comment, it means Epic is guaranteeing the Phoenix Point devs at least $2 million.
The odd thing is that they're not even getting paid up front. It's more of a guarantee from Epic stating you'll make at least $X in sales or we'll make up the difference. I think this opens up a whole new can of worms since A) who knows how ironclad this contract is, without the money up front, Epic could potentially slide in some slimy clause that could allow them to back out and essentially bankrupt these devs. And if this is the offer being made, I feel like it'll be like when early access was first a thing and was a cancer on Steam of people just pushing out ideas for easy sales and then dropping support. Who's to say there won't be devs out there that will come out with a good idea and a good promo video, then make their pitch to Epic, then just stop supporting it knowing they'll get their money.
I get that kind of money is really tempting but if I was a dev, I wouldn't sell anything as an exclusive saying "you'll make at least $X or we'll pay you the difference in X years." I'd only want the money up front if I was going to go that route since I know I'd have the money in hand.