Baobab Studios Secures Naver Investment for Global IP Growth

Baobab Studios, a 10-time Emmy-winning animation studio, has announced a strategic investment from Naver Ventures, the U.S. venture investment arm of South Korea's Naver Corporation. This investment, reported to be in the seven figures, values Baobab above its previous funding round.

The funding signals growing confidence in Baobab's strategy to build intellectual property (IP) that spans Asia and North America, particularly for growing Gen Z franchises in both directions across multiple platforms.

Baobab's upcoming project, tentatively titled 'Shine,' is an original fantasy adventure. It is co-created by filmmaker Erick Oh and webtoon author Madeleine Rosca. The story follows a half-human girl tasked with saving a futuristic Korea by bridging the human and spirit worlds.

'Shine' is being developed in collaboration with Webtoon as a digital webcomic series, targeting Webtoon's large Gen Z readership. Additionally, a print graphic novel will be published by First Second Books, an imprint of Macmillan Publishers. Baobab will retain film, television, streaming, and gaming rights for the property.

Baobab CEO Maureen Fan highlighted the partnership's synergy, combining Naver's technological and distribution strengths in Asia with Baobab's Hollywood storytelling expertise. This collaboration aims to create a multi-platform universe for younger audiences.

Yong Jung Park, general partner at Naver Ventures, noted Baobab's exceptional creative talent and multi-platform approach as key attractions. He emphasized the value of enduring franchises across animation, gaming, publishing, and interactive experiences.

Erick Oh has a notable history with Baobab, having directed the Annie Award winner "Namoo." Madeleine Rosca is known for her popular Webtoon series "Rise From Ashes."

Baobab's current development slate includes the animated series "Witchverse" with Disney+ and feature film adaptations of "Intercats" and "The Magic Paintbrush."