BlackRock has led a $550 million new capital raise to support the growth of Virgin Voyages, a new lifestyle travel brand focused on providing cruise vacations.

As part of the funding, existing investors Bain Capital Private Equity and Virgin Group provided additional capital. Virgin Voyages launched in August 2021 and currently operates two ships operating in the Caribbean and 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. “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 & Co. LLC served as lead placement agent to Virgin Voyages.