New Delhi, India, May 18, 2009 - Rajasthan Venture Capital Fund (RCVF) has made Series B investment of 13.41% stake in EFactor Adventure Tourism Pvt Ltd, which runs India’s first and only hot air ballooning service under the banner of Skywaltz (www.skywaltz.com) & Jaipur based EFactor Adventure Tourism Pvt Ltd, which is India’s first Hot Air ballooning company. About a year earlier a prominent Investment Banker with a large international Investment Bank had made an angel investment in the Company for a small 3% stake.

Skywaltz has completed 2 years of flying operations and currently operated out of 3 locations – Jaipur, Ranthambore and Gurgaon. Their revenue model is based on ticket sales, special events and advertisements on the balloon covers. Their balloons were recently used in such diverse areas like a team building exercise for Google India and launch of the Akshay Kumar starrer Chandni Chowk to China where, the star arrived at the theatre in a hot air balloon. The target audience is international tourists and high end India travelers.

Pune based RCS Advisors India Pvt Ltd (www.rcsadvisors.in), which mentors early and growth stage enterprises in their expansion and fund raising plans, acted as exclusive advisors to the deal.

About EFactor Adventure Tourism

The New Delhi based Company has been promoted by two first generation entrepreneurs – Samit Garg and Jai Thakore. The duo runs a successful Event Management company – EFactor Entertainment Pvt Ltd (www.efactor4u.com) which is the market leader in the event management of premium celebrity weddings.

About RCVF

Rajasthan Venture Capital Fund is a 6 years old fund having committed corpus of over Rs.115 Crore in two funds under its management. The fund which is further raising a corpus of similar amount, is engaged in private equity and venture capital finance on pan India basis with focus on National Capital Region and Rajasthan. Rajasthan State Industrial Development and Investment Corporation (RIICO) and Small Industries Development Bank of India (SIDBI) are the anchor contributors to Rajasthan Venture Capital Fund.