Virgin Voyages has raised $550m in new capital to support its continued growth strategy in a fundraiser led by investment management giant BlackRock.

The cruise ship owner said the funding consists of new external financing, with capital raised from investors that included Bain Capital and Richard Branson’s Virgin Group.

The package also included support from existing lenders, the company said.

“We have created an incredible product that both our investors and consumers truly believe in, and this additional capital comes at a time when we’re looking forward to exponential growth that will in turn help us achieve what we set out to accomplish,” chief executive Tom McAlpin said in a statement.