Cruise brand Virgin Voyages lands $550m

BlackRock led the round with participation.

  • Other backers included Bain Capital Private Equity and Virgin Group
  • Virgin Voyages will use the capital infusion to support its growth
  • Goldman Sachs served as lead placement agent

Virgin Voyages, a cruise brand, has secured $550 million in funding. BlackRock led the round with participation from other backers that included Bain Capital Private Equity and Virgin Group.

The capital will be used to support Virgin Voyages’ growth.

Virgin Voyages officially launched in August 2021 and currently operates two ships, Scarlet Lady traveling from the U.S. to the Caribbean, and Valiant Lady currently sailing in the Mediterranean.

“Virgin Voyages has successfully launched a new brand in the cruise industry and proven its appeal to both the traditional and non-traditional cruiser, allowing the brand to tap into new markets and re-imagine this travel category,” said Ryan Cotton, a managing director at Bain Capital,” in a statement. “The expansion and enthusiastic commitment of the investor group supporting Virgin Voyages is a testament to the attractive fundamentals of this brand and what makes it so special.”

Goldman Sachs served as lead placement agent to Virgin Voyages.

Founded in 1984. Bain Capital Private Equity’s sectors include healthcare, consumer/retail, financial and business services, industrials, and technology, media and telecommunications. Bain Capital has 23 offices on four continents. The firm has made primary or add-on investments in more than 1,000 companies since its inception. In addition to private equity, Bain Capital invests across asset classes including credit, public equity, venture capital and real estate, managing approximately $160 billion in total.