Richard Branson's Virgin Orbit seeks $1 billion valuation in funding round: WSJ

(Reuters) - Richard Branson's satellite launch business Virgin Orbit plans to raise up to $ 200 million in a round of funding, which could be worth around $ 1 billion, the Wall Street Journal reported on Sunday, citing people familiar with the matter .
Branson's space companies compete with those of fellow billionaire colleagues Elon Musk and Jeff Bezos in the commercial space exploration industry.
Virgin Orbit announced in August that it had engaged LionTree Advisors LLC and Perella Weinberg Partners LP to investigate potential financial transactions. These banks are helping her raise between $ 150 million and $ 200 million in investments and funding satellite launches by the end of the year, the Journal said.
Virgin Orbit did not immediately respond to a request for comment on the report.

(Reporting by Rama Venkat in Bengaluru; Editing by William Mallard)

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