Cryptocurrency venture capital firm Andreessen Horowitz (a16z) is launching its first office in Asia, specifically in South Korea, to enhance its investments in the region.
The firm highlighted a “particularly strong concentration” of onchain users in Asia, with this expansion aiming to bolster portfolio companies through growth, partnerships, and community development across the continent.
“Our expansion will provide go-to-market assistance for portfolio companies looking to accelerate growth, establish strategic partnerships, and cultivate enduring communities throughout Asia,” stated a16z Crypto managing partner and chief operating officer Anthony Albanese.
He noted that the region accounts for a significant portion of global cryptocurrency activity, with nearly a third of South Korean adults owning digital assets.
India ranks high in global adoption, Japan’s onchain activity has surged 120% in the past year, Singapore boasts one of the highest rates of crypto ownership globally, and 11 of the top 20 countries for crypto adoption are in Asia, according to Chainalysis.
A16z to further expand in Asia
“This is just the beginning,” mentioned Albanese. “In the coming years, we aim to deepen our presence in Asia, introduce new capabilities to support our crypto ventures in the region, and continually seek ways to extend our footprint,” he added.
This initiative signals where one of the industry’s top investors anticipates future growth; it emphasizes not just capital allocation, but integration within the user and builder community.
Strong crypto adoption in Asia
The new Seoul office will be led by SungMo Park, who has a background with Polygon Labs.
“Utilizing the network, experience, and relationships I’ve built over the years in this industry, I’ll assist a16z Crypto’s founders in accessing a new market, as well as the regional insights and expertise necessary for scaling,” explained Park on X.
Related: Robinhood set to enter Indonesia, aiming at 17M crypto traders
This week, Sygnum reported that 60% of surveyed high-net-worth individuals in Asia were willing to increase their cryptocurrency allocations, citing a strong long-term outlook.
The survey further indicated that 87% of affluent Asian investors currently hold cryptocurrency, with around half possessing an allocation exceeding 10%
Magazine: XRP’s ‘now or never’ moment, Kalshi taps Solana: Hodler’s Digest
