Japanese venture capital firm, UMJ Russia Fund has invested $3 million in exchange for a 30% stake in Game Network that holds rights for the Russian television channel for gamers, Gameland TV, reported newspaper Vedomosti. The channel is going to distribute Japanese anime and manga content to the Russian audience.
Launched in February 2008, Gameland TV‘s monthly audience is 0.5% of TV viewers in Russia. Its revenues were estimated at $1 million in 2009. Gameland TV was developed by special interest media company Gameland.
UMJ Russia Fund was launched by United Managers Japan Inc. (UMJ) in June 2007.