London Daily

Focus on the big picture.
Monday, Oct 05, 2026

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
BT Accused of Pressuring Vulnerable Customers During Digital Landline Shift
British Carmakers Warn of Growing Pressure From EU-China Tariff Dispute
Green Party of England and Wales Adopts Motion Defining Zionism as Racism
Medical Charity Threatens NHS Legal Action Over Two-Year Autism and ADHD Assessment Waits
British Transport Police Report Record Rise in Violence on Railways
Glasgow Council Workers Face Pay Cuts Under Fire-and-Rehire Plan
British Medical Groups Press Prime Minister Andy Burnham to Cancel £330 Million Palantir NHS Contract
UK Faces Record Bluetongue Outbreak Across Livestock Farms
UK Schools Report Thousands of Child-on-Child Sexual Offences
High Court Overturns Ban Blocking Gaza Families From Reuniting With Relatives in UK
G7 Authorizes Emergency Fuel Release as UK Diesel Prices Hit £2 a Litre
France and Italy Draw 1-1 in Nations League Match
Pope Leo XIV and Prince Albert II of Monaco Meet in Metz
SNCF Expands Low-Cost Ouigo High-Speed Service Between Lyon and Bordeaux
Paris Expands Dedicated Cargo Bike Routes for Urban Deliveries
French Film Industry Pushes for Tighter Streaming Investment Rules
Marseille Court Hands Down Prison Terms in Public Procurement Corruption Case
LVMH and Kering Rely on US Demand as Chinese Luxury Spending Slows
Toulouse Aerospace Sector Launches €80 Million Modernization Fund
Javier Milei Courts French Investment in LNG and Lithium
Mistral AI Launches Sovereign Model for European Public Services
French Competition Authority Fines Retailers €40 Million Over Misleading Promotions
France Records Exceptional Electricity Exports as Nuclear Output Recovers
Dassault Aviation Expands Rafale Assembly Capacity at Mérignac
Sanofi Invests €1 Billion in New Biologics Production Hub Near Lyon
France Protests Germany’s Extension of Border Controls Into 2027
French Public-Sector and Transport Unions Threaten National Strike
France Deploys Riot Police After Violence in Lyon Suburbs
French Anti-Terrorism Prosecutors Investigate Radicalized Flydubai Co-Pilot
France’s Defense Budget Surpasses NATO’s 2% of GDP Target
French Government Faces No-Confidence Threat Over Budget
France and G7 Release 100 Million Barrels From Strategic Oil Reserves
France Convenes Emergency Defense Council Over Threats to Commercial Shipping
France and Germany Coordinate Military Response After Russian Strikes on Kyiv Infrastructure
UK Police Release Six Iranian Nationals on Bail After RAF Fairford Security Alert
UK Business Confidence Falls as Energy Costs and Tax Uncertainty Rise
Cornwall Insight Warns UK Energy Bills Could Rise 16% in January
UK Introduces Zero VAT on Household Electricity Bills
UK 30-Year Gilt Yield Hits 6% as Bond Market Pressures Intensify
UK Introduces Stricter Subcontractor Checks and Expanded Trade Union Access
Green Party Proposes Three-Year Emergency Freeze on Private Rent Increases
UK Treasury Committee Seeks Tax Clarification Over Manchester City Investigation
Royal Marines Deploy to Faroe Islands for Northern European Security Exercise
UK Business Confidence Weakens as High Costs Delay Investment
UK GDP Growth Revised Up to 0.5% in Second Quarter
Bank of England Warns of Financial Stability Risks From Autonomous AI
UK Expands Early Prisoner Release Scheme to Ease Overcrowding
UK Records Worst Bluetongue Outbreak on Record Across Livestock Farms
UK Government Faces Shrinking Fiscal Headroom Ahead of October 28 Budget
UK 30-Year Gilt Yield Reaches 6% as Energy Shock Drives Borrowing Costs Higher
×