UK-based conglomerate Virgin Group has invested in the latest round raised by Virgin Mobile Latin America along with various venture capital firms.
Virgin was joined in the round by Souter Investments, the private investment vehicle of Stagecoach founder Brian Souter, venture firms ePlanet Capital and Hermes Growth Partners as well as Canepa.
Virgin Mobile Latin America was established a little more than a year ago, and is planning to launch operations in seven markets including Colombia, Brazil, Argentina, and Mexico.
Juan Villalonga, former Chairman and chief executive of Telefonica and a co-founder of Hermes Growth Partners, has joined the Virgin Mobile Latin America board.