Crypto venture capital firm Andreessen Horowitz (a16z) is establishing its inaugural Asia-based office in South Korea, signaling an intent to deepen its portfolio engagement within the region.
The firm highlighted a "particularly strong concentration" of onchain users in Asia, with the new office designed to provide portfolio companies with enhanced support for growth, strategic partnerships, and community development across the continent.
“Our expansion will offer go-to-market support for portfolio companies seeking to accelerate growth, forge strategic partnerships, and build lasting communities across Asia,” stated Anthony Albanese, managing partner and chief operating officer of a16z Crypto.
Albanese further noted that the Asian region accounts for a significant portion of global crypto activity. Specifically, nearly one-third of South Korean adults are reported to own digital assets.
Supporting this trend, India leads in global adoption rankings, Japan has experienced a 120% surge in onchain activity over the past year, and Singapore boasts one of the highest crypto ownership rates worldwide. Chainalysis data indicates that 11 of the top 20 countries for crypto adoption are located in Asia.
A16z's Strategic Expansion into Asia
“This is just the beginning,” Albanese remarked. “Over the coming years, we plan to grow our presence in Asia, add new capabilities to support our crypto companies operating there, and keep exploring new ways to expand our geographic footprint.”
This strategic move underscores where one of the industry's most prominent investors perceives future growth opportunities. The initiative extends beyond mere capital deployment, aiming to establish a strong presence within key user and builder communities.
Strong Crypto Adoption Across the Asian Region
The new Seoul office will be under the leadership of SungMo Park, who brings valuable experience from Polygon Labs.
“Through the network, experience, and relationships I’ve built over the years in this industry, I’ll help a16z Crypto’s founders access not just a new market, but the regional context and knowledge they need to scale,” Park shared on X.
Recent reports indicate a positive sentiment towards crypto in Asia. Sygnum reported that 60% of surveyed Asian high-net-worth individuals are prepared to increase their crypto allocations, citing a strong long-term outlook.
The survey also revealed that 87% of affluent Asian investors currently hold crypto, with approximately half allocating more than 10% of their portfolio to digital assets.