Emmy-winning Baobab Studios lands seven-figure Naver Ventures round for Asia-US push
What's the deal? Baobab Studios has raised a seven-figure late-stage round led by Naver VenturesDealroom has a profile for this one. Try Dealroom →, the investment arm of South Korean tech group NaverDealroom has a profile for this one. Try Dealroom →. The deal is an up-round, valuing the animation studio above its previous raise.
What's the endgame? The money funds a new slate of intellectual property spanning Asia and North America. Its first project is "Shine," an original fantasy adventure co-created by Oscar-nominated filmmaker Erick Oh and webtoonDealroom has a profile for this one. Try Dealroom → author Madeleine Rosca, about a half-human girl racing to save a futuristic Korea.
How it works: Baobab is developing "Shine" with Webtoon as a digital webcomic, a platform where 75% of monthly readers are Gen Z. A print graphic novel will follow from First Second BooksDealroom has a profile for this one. Try Dealroom →, an imprint of Macmillan PublishersDealroom has a profile for this one. Try Dealroom →, while Baobab keeps film, television, streaming, and gaming rights.
Why Naver? Chief executive officer Maureen Fan framed the deal as "a true convergence of East and West," pairing Naver's distribution reach across Asia with Baobab's Hollywood animation. Naver Ventures general partner Yong Jung Park cited Baobab's "truly multi-platform approach to building IP."
Track record: Oh directed Baobab's "Namoo," which won an Annie Award, earned an Emmy nomination, and was shortlisted for an Oscar. Rosca's Webtoon series "Rise From Ashes" drew more than 52 million readers across 140 episodes, and she was the first non-Japanese winner of Japan's International Manga Award.
The bigger picture: Baobab's slate stretches across formats. It is developing the animated series "Witchverse" with Disney+Dealroom has a profile for this one. Try Dealroom →, adapting titles with Penguin Random HouseDealroom has a profile for this one. Try Dealroom → as feature films, and running Roblox experiences including "Momoguro" and "Deepwoken."
The signal: Korean narrative culture — from webtoons to K-content — has built a global fanbase, and investors are backing studios that can move IP across the page, screen, and games. Naver's bet on Baobab positions a Korean tech giant to export franchises into Western markets through Hollywood-grade animation.
Read more: us.headtopics.com
Image credit: Generated with Gemini
