Tata Capital, the private equity arm of the Indian conglomerate Tata Group, has invested in three separate India-based companies: television services operator Tata Sky, financial products and services distributor IFMR Rural Channels and Services (IRCS) and personalized cancer care and rational drug developer Mitra Biotech. In the largest of the three deals, Tata Opportunities Fund picked up a five percent stake in Tata Sky for INR2.5 billion (approximately US$40 million). For Mitra Biotech, Tata Capital Innovations Fund participated in a second round of institutional funding, reportedly worth INR400 million (approximately US$6.5 million), along with existing investors venture capital firms Accel Partners India and India Innovation Fund. Finally, IRCS raised INR320 million (approximately US$5.2 million) from Tata Capital Special Situations Fund. The company had previously raised US$5 million from venture capital firm Lok Capital and Proparco in March 2012.