Temasek, the majority shareholder of Asian operator group SingTel, led an $86 million equity capital funding round in Virgin Mobile Latin America (VMLA).

Joining Temasek as a new shareholder in the MVNO is El Coigue, the holding company of Chilean telecom operator Grupo GTD.

The shareholder group also includes Richard Branson’s Virgin Group, growth equity firm Hermes Growth Partners and US venture capital firm ePlanet Capital.

In total, VMLA has received more than $140 million in equity investment over the past three years.

The fourth equity round was supported by an expanded debt facility of $41.5 million which will include VMLA’s new Mexican operations. The company already has $19 million of debt facilities to support operations in Chile and Colombia.

The proceeds of the financing will be used to launch Virgin Mobile in Mexico in 2014 and Brazil in 2015 (subject to regulatory approval), as well as fund further growth and expansion in Latin America.

Virgin Mobile was launched in Chile in 2012 and in Colombia the following year. The brand is now the leading MVNO in both markets in terms of customer numbers and rates of growth.

VMLA CEO Peter Mcnee said the company is adding more than 100,000 new subscribers each month and will soon reach one million active customers in the region.

Temasek has an investment portfolio of $173 million, including a 51.9 per cent stake in SingTel.