Sir Richard Branson looking for additional investment in Virgin space ventures

Sir Richard Branson has hired corporate finance firm LionTree Advisors to help raise hundreds of millions of pounds to invest in Virgin Galactic and Virgin Orbit, according to Sky News.

It comes months after Branson halted a $1bn (£775m) Saudi-funded deal amid the political tension over Jamal Khashoggi's murder.

Discussions are already under way with a number of potential investors, including sovereign wealth funds, private equity firms, high net worth individuals and strategic partners, Sky News claims.

LionTree is understood to have been appointed due to expressions of interest from investors following the Galactic test flight to the edge of space in December. 

Branson is seeking funding that would value Virgin Galactic and Orbit at a combined sum of more than $2bn (£1.55bn).

Sky News claim that the amount Branson is looking to raise would be at least $250m (£193m), with the structure of a deal seeing new shareholders inject money into either or both companies. 

New investment would accelerate the launch of a commercially viable space tourism venture in which Branson hopes will take himself to space this year, he said last week.