GameLand Network, a Russian companies which holds the rights for the Russian television channel Gameland TV, has sold a minority stake to the Japanese venture fund UMJ Russia Fund, as Pasha Romanovsky from Game Network told to Vedomosti. The amount of the investment was not disclosed but consultants near the transaction said it is around $ 3 million for the 30% of the company capital.

After this operation, the Russian channel will also distribute Japanese contents to the Russian audience. Mr. Otsubo, from UJM, reported his interest for the Russian game market and believes that Gameland TV is successful multimedia project, in a country where the Internet penetration is growing rapidly and the Japanese pop culture (video games, anime, manga and music) is very popular among Russian youngs.

Gameland TV was launched in February 2008 and its revenue was estimated in $ 1 million for the year 2009. UMJ Russia Fund was established by United Managers Japan Inc. in June 2007.