a16z Crypto opens first Asia office in Seoul, eyes growth
a16z Crypto, the digital assets arm of venture capital firm Andreessen Horowitz, has opened its first office in Asia, selecting Seoul, South Korea, as its regional base. The office will be led by SungMo Park, formerly of Polygon Labs, as the firm seeks to expand support for portfolio companies across the region.
The firm cited a high concentration of onchain users in Asia and said the new hub will provide go-to-market assistance, help establish strategic partnerships, and facilitate community development for its companies operating in the region. According to a16z Crypto managing partner and chief operating officer Anthony Albanese, Asia accounts for a substantial portion of global cryptocurrency activity. He noted that nearly one-third of South Korean adults hold digital assets. India ranks highly in global adoption, Japan recorded a 120% increase in onchain activity over the past year, Singapore has one of the highest ownership rates, and 11 of the top 20 countries for crypto adoption are in Asia, based on data from Chainalysis.
A16z outlines broader Asia expansion
Albanese said the Seoul launch marks the start of a longer-term strategy to grow the firm’s footprint in Asia. He added that a16z Crypto plans to expand its capabilities to better support companies operating in the region and continue evaluating additional geographic opportunities.
Regional adoption trends
The Seoul office will be overseen by SungMo Park, who said he aims to leverage his network and experience to help founders navigate local markets and scale effectively. In a post on X, Park said his focus will be on connecting companies with the regional context and relationships necessary for growth.
Separately, Sygnum reported this week that six in 10 surveyed high-net-worth individuals in Asia plan to increase their crypto allocations, citing a positive long-term outlook. The survey also found that 87% of affluent investors in the region already hold crypto, with around half allocating more than 10% of their portfolios to the asset class.
Stay informed, read the latest news right now!
Disclaimer
The content on TrustsCrypto.com is for informational purposes only and does not constitute financial or investment advice. Cryptocurrency markets are highly volatile, always do your own research before making decisions.
Some content may be assisted by AI and reviewed by our editorial team, but accuracy is not guaranteed. TrustsCrypto.com is not responsible for any losses resulting from the use of information provided.
