Key Takeaways
- • Andreessen Horowitz (a16z) opened its first Asia office in Seoul, South Korea, marking the venture capital firm's regional expansion focused on its crypto division and portfolio company growth across Asia.
- • a16z crypto hired Sungmo Park as Head of APAC Go-to-Market to lead the Seoul office; Park brings deep regional expertise from previous roles at Monad Foundation (APAC Lead) and Polygon Labs (Head of APAC Business Development), and is fluent in Korean, Japanese, Chinese, and English.
- • Asia represents a significant and concentrated share of global crypto activity, with South Korea ranking as the second-largest crypto market (nearly one in three adults own crypto), Japan experiencing 120% onchain activity growth year-over-year, and 11 of the top 20 countries by crypto adoption in Asia according to a16z's State of Crypto report.
- • The Seoul office will provide go-to-market support for a16z crypto's portfolio companies seeking to accelerate growth, forge strategic partnerships, and build communities across Asia, with Park leveraging his corporate network to strengthen market connectivity and crypto adoption across the continent.
Summary
Andreessen Horowitz announced the opening of its first Asia-based office in Seoul, South Korea, as part of a strategic expansion of its crypto investment operations into one of the world's most active digital-asset markets. The move reflects the venture capital firm's commitment to supporting portfolio companies navigating Asian market entry and growth, particularly in the cryptocurrency and blockchain sectors where regional adoption and activity have accelerated significantly.
The Seoul office will be led by Sungmo Park, who joins a16z crypto as Head of APAC Go-to-Market. Park's appointment signals the firm's intention to build deep regional relationships and market expertise. He previously served as APAC Lead at Monad Foundation, where he developed go-to-market and ecosystem strategies across East Asia, Greater China, Southeast Asia, and India. Prior to that role, he was Head of APAC Business Development at Polygon Labs, where he led enterprise partnerships and collaborations with emerging crypto projects. Park is multilingual, speaking Korean, Japanese, Chinese, and English—a valuable asset for building partnerships across diverse Asian markets.
According to a16z's latest State of Crypto report, Asia represents a disproportionately large share of global onchain activity and crypto adoption. South Korea is the second-largest crypto market globally, with nearly one in three South Korean adults holding crypto assets, a penetration rate that exceeds stock market participation. Japan has demonstrated exceptional momentum, with onchain activity surging 120% over the past year. Singapore ranks among the world's highest in crypto ownership rates, with 40% of Gen Z and Millennials participating. India ranks first globally on Chainalysis's Global Crypto Adoption Index, and eleven of the twenty countries with highest crypto adoption are located in Asia.
The Seoul office will deliver go-to-market support services designed to help a16z's portfolio companies accelerate expansion, establish strategic partnerships, and cultivate communities across the Asian continent. Park will work directly with portfolio founders and leverage his corporate network to enhance market connectivity and drive broader crypto adoption throughout the region. This represents a strategic bet by one of the world's largest venture capital firms on Asia's continued growth as a center of blockchain innovation and digital-asset adoption.
The Seoul office will be led by Sungmo Park, who joins a16z crypto as Head of APAC Go-to-Market. Park's appointment signals the firm's intention to build deep regional relationships and market expertise. He previously served as APAC Lead at Monad Foundation, where he developed go-to-market and ecosystem strategies across East Asia, Greater China, Southeast Asia, and India. Prior to that role, he was Head of APAC Business Development at Polygon Labs, where he led enterprise partnerships and collaborations with emerging crypto projects. Park is multilingual, speaking Korean, Japanese, Chinese, and English—a valuable asset for building partnerships across diverse Asian markets.
According to a16z's latest State of Crypto report, Asia represents a disproportionately large share of global onchain activity and crypto adoption. South Korea is the second-largest crypto market globally, with nearly one in three South Korean adults holding crypto assets, a penetration rate that exceeds stock market participation. Japan has demonstrated exceptional momentum, with onchain activity surging 120% over the past year. Singapore ranks among the world's highest in crypto ownership rates, with 40% of Gen Z and Millennials participating. India ranks first globally on Chainalysis's Global Crypto Adoption Index, and eleven of the twenty countries with highest crypto adoption are located in Asia.
The Seoul office will deliver go-to-market support services designed to help a16z's portfolio companies accelerate expansion, establish strategic partnerships, and cultivate communities across the Asian continent. Park will work directly with portfolio founders and leverage his corporate network to enhance market connectivity and drive broader crypto adoption throughout the region. This represents a strategic bet by one of the world's largest venture capital firms on Asia's continued growth as a center of blockchain innovation and digital-asset adoption.
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