Virgin Mobile Latin American Secures New Funding and New Investors for Expansion (Latin America)
Source: ePlanet Capital
Virgin Mobile Latin America (VMLA), a mobile virtual network operator established last year, has raised US$26.5 million to support its recent launch of services in Chile. A number of investors participated in this funding round, including existing shareholders ePlanet Capital, a U.S.-based venture and growth capital investment manager, and Virgin Group, as well as new investors Hermes Growth Partners, CANEPA, and Souter Investments. In the coming years, VMLA plans to begin operations in seven additional markets, including Colombia, Brazil, Argentina and Mexico.