Branson looking to raise funding to push Virgin Orbit value to US$1bn mark
Richard Branson, 70, has always been a magnet for attention. Which says much about his handlers as, in person, he comes across as modest, friendly and almost shy. I guess it's the case of needs must. As it certainly has been for Branson this month, after raising $480m through a "blank cheque listing" in New York via a new entity called VG Acquisition Corp1.5bn; and now looking for another $200m for Virgin's satellite launching business, reported exclusively this morning by our partners at the Wall Street Journal. All this, after his Virgin Atlantic Airways completed $1.5bn in fund raising to beat off bankruptcy. For super-active Sir Richard, 70 really is the new 50. – Alec Hogg
Richard Branson's Virgin Orbit seeks $1 billion valuation
By Alistair MacDonald, Ben Dummett and Andy Pasztor
Richard Branson's Virgin Orbit is looking to raise up to $200 million in a funding round that could value the satellite-launch business at around $1 billion, according to people familiar with the matter.
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