Baobab Studios has received a seven-figure strategic investment from Naver Ventures, valuing the Emmy-winning animation company above its previous funding round. The deal matters because it aims to help Baobab create entertainment franchises that can move between Asian and North American audiences, spanning comics, animation, film, television and games.

Its first project under the partnership is “Shine”, a fantasy adventure about a half-human girl seeking to restore balance between human and spirit worlds in a futuristic Korea. Co-created by filmmaker Erick Oh and webtoon author Madeleine Rosca, it will launch as a Webtoon digital comic and a First Second print graphic novel, while Baobab retains screen and gaming rights; Webtoon says 75% of its monthly active readers are Gen Z.