London Daily

Focus on the big picture.
Sunday, Aug 24, 2025

Branson-backed Virgin Voyages sets sail on quest for new funding

Branson-backed Virgin Voyages sets sail on quest for new funding

Virgin Voyages is seeking hundreds of millions of dollars in fresh capital just eight months after raising $550m from investors led by the world’s biggest asset manager.

Sir Richard Branson's cruise-line venture is seeking hundreds of millions of dollars in fresh funding even as the Virgin Group founder faces financial turbulence in other parts of his business empire.

Sky News has learnt that Virgin Voyages is in the early stages of plans to raise a substantial sum of money from new and existing investors.

Sources close to the situation said this weekend that it was too early to determine the scale of the prospective fundraising, or the mix of debt and equity it would involve.

The disclosure of Virgin Voyages' talks to secure new capital comes just days after Virgin Orbit, Sir Richard's commercial satellites business, said it would lay off the majority of its staff and cease operations after running out of money.

He injected $11m into the business this week to fund the redundancies of nearly 700 staff.

Its looming collapse is a blow to the tycoon as well as public market investors who backed Virgin Orbit's 2021 merger with a special purpose acquisition company listed in New York at a valuation of over $3bn.

Virgin Voyages also launched in 2021 - following a 15-month delay caused by COVID-19 - with its maiden journey from Portsmouth in August of that year.

It operates two cruise ships - the Scarlet Lady, which sails between the US and Caribbean, and the Valiant Lady.

A third vessel, the Resilient Lady, comes into operation next month, with a fourth, Brilliant Lady, due to be delivered later this year.

The company is 20%-owned by Sir Richard's Virgin Group, and like the entrepreneur's other ventures, was conceived with the intention of disrupting industries beset by an absence of innovation or focus ocustomer service.

During his decades in business, Sir Richard has funded forays into banking, space tourism, aviation, insurance, soft drinks and telecoms.

A number of those businesses, such as Virgin Money and Virgin Galactic, are listed in London and New York respectively.

Others, including Virgin Atlantic Airways, are privately held, with Sir Richard's holding company owning significant stakes.

The pandemic badly hurt Virgin's consumer and leisure-focused companies, prompting the tycoon at one point to warn that he may be forced to mortgage his Necker Island home.

Richard Branson, founder of Virgin Group


He has raised billions of dollars from the sale of shares in Virgin Galactic, using part of the proceeds to fund capital injections into Virgin Atlantic and Virgin Orbit.

Some of those share sales came during a period when he also sought emergency financial support from the government to shore up his airline business.

Virgin Voyages' latest talks about raising funding come just seven months after it secured $550m from investors led by funds managed by BlackRock, the world's largest asset manager.

"Despite the unprecedented challenges the cruise sector has faced in the past few years, the industry is exhibiting a powerful rebound," Brendan Galloway, director at BlackRock Global Credit said at the time.

"We are excited to invest in Virgin Voyages on behalf of our investors as we see a positive outlook and impressive growth on the horizon for the company."

Bain Capital, the private equity firm, and Virgin Group also participated in that round.

Its adult-only trips sail to 100 ports, including in Australia and New Zealand from later this year.

Among the accolades cited by Virgin Voyages during its first 18 months in operation are recognition on Condé Nast Traveler's 2022 Cruising 'Hot List', and being named best new cruise ship by Cruise Critic.

This year, the company says it has seen "exponential growth in bookings, including industry leading re-bookings, from customers".

A Virgin Voyages spokeswoman declined to comment on its funding discussions.

Newsletter

Related Articles

0:00
0:00
Close
Deputy Prime Minister Angela Rayner Purchases Third Property Amid Housing Tax Reforms Debate
HSBC Switzerland Ends Relationships with Over 1,000 Clients from Saudi Arabia, Lebanon, Qatar, and Egypt
Sharia Law Made Legally Binding in Austria Despite Warnings Over 'Incompatible' Values
Italian Facebook Group Sharing Intimate Images Without Consent Shut Down Amid Police Investigation
Dutch Foreign Minister Resigns Amid Deadlock Over Israel Sanctions
Trump and Allies Send Messages of Support to Ukraine on Independence Day Amid Ongoing Conflict
China Reels as Telegram Chat Group Shares Hidden-Camera Footage of Women and Children
Sam Nicoresti becomes first transgender comedian to win Edinburgh Comedy Award
Builders uncover historic human remains in Lancashire house renovation
Australia Wants to Tax Your Empty Bedrooms
MotoGP Cameraman Narrowly Avoids Pedro Acosta Crash at Hungarian Grand Prix
FBI Investigates John Bolton Over Classified Documents in High-Profile Raids
Report reveals OpenAI pitched national ChatGPT Plus subscription to UK ministers
Labour set to freeze income tax thresholds in long-term 'stealth' tax raid
Coca‑Cola explores sale of Costa coffee chain
Trial hears dog walker was chased and fatally stabbed by trio
Restaurateur resigns from government hospitality council over tax criticism
Spanish City funfair shut after serious ride injury
Suspected arson at Ilford restaurant leaves three in critical condition
Tottenham beat Manchester City to go top of Premier League
Bank holiday heatwave to hit 30°C before remnants of Hurricane Erin arrive
UK to deploy immigration advisers to West Africa to block fake visas
Nurse who raped woman continued working for a year despite police alert
Drought forces closures of England’s canal routes, canceling boat holidays
Sweet tooth scents: food-inspired perfumes surge as weight-loss drugs suppress appetites
Experts warn Britain dangerously reliant on imported food
Family of Notting Hill Carnival murder victim call event unmanageable
Bunkers, Billions and Apocalypse: The Secret Compounds of Zuckerberg and the Tech Giants
Ukraine Declares De Facto War on Hungary and Slovakia with Terror Drone Strikes on Their Gas Lifeline
Animated K-pop Musical ‘KPop Demon Hunters’ Becomes Netflix’s Most-Watched Original Animated Film
New York Appeals Court Voids Nearly $500 Million Civil Fraud Penalty Against Trump While Upholding Fraud Liability
Elon Musk tweeted, “Europe is dying”
Far-Right Activist Convicted of Incitement Changes Gender and Demands: "Send Me to a Women’s Prison" | The Storm in Germany
Hungary Criticizes Ukraine: "Violating Our Sovereignty"
Will this be the first country to return to negative interest rates?
Child-free hotels spark controversy
North Korea is where this 95-year-old wants to die. South Korea won’t let him go. Is this our ally or a human rights enemy?
Hong Kong Launches Regulatory Regime and Trials for HKD-Backed Stablecoins
China rehearses September 3 Victory Day parade as imagery points to ‘loyal wingman’ FH-97 family presence
Trump Called Viktor Orbán: "Why Are You Using the Veto"
Horror in the Skies: Plane Engine Exploded, Passengers Sent Farewell Messages
MSNBC Rebrands as MS NOW Amid Comcast’s Cable Spin-Off
AI in Policing: Draft One Helps Speed Up Reports but Raises Legal and Ethical Concerns
Shame in Norway: Crown Princess’s Son Accused of Four Rapes
Apple Begins Simultaneous iPhone 17 Production in India and China
A Robot to Give Birth: The Chinese Announcement That Shakes the World
Finnish MP Dies by Suicide in Parliament Building
Outrage in the Tennis World After Jannik Sinner’s Withdrawal Storm
William and Kate Are Moving House – and the New Neighbors Were Evicted
Class Action Lawsuit Against Volkswagen: Steering Wheel Switches Cause Accidents
×