A16z crypto opens office in South Korea as it bets on Asia
|Crypto venture capital firm Andreessen Horowitz (a16z) is opening its first Asia-based office in South Korea with plans to expand its portfolio in the region.
The firm stated that there was a “particularly strong concentration” of onchain users in Asia, and the expansion aims to support portfolio companies with growth, partnerships, and community building across Asia.
“Our expansion will offer go-to-market support for portfolio companies seeking to accelerate growth, forge strategic partnerships, and build lasting communities across Asia,” said a16z Crypto managing partner and chief operating officer Anthony Albanese.
Albanese stated that the region represents a significant share of global cryptocurrency activity, with nearly a third of South Korean adults owning digital assets.
India also leads global adoption rankings, Japan has seen onchain activity grow 120% in the past year, Singapore has one of the world’s highest rates of crypto ownership, and 11 of the top 20 countries for crypto adoption are Asian, according to Chainalysis.
A16z to expand further into Asia
“This is just the beginning,” said Albanese. “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,” he added.
The move signals where one of the industry’s largest investors sees future growth; it is not just about capital deployment, but being embedded where the users and builders are.
Asian region has strong crypto adoption
The new Seoul office is being led by SungMo Park, who brings 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,” said Park on X.
This week, Sygnum reported that six in 10 surveyed Asian high-net-worth individuals were prepared to increase their crypto allocations based on a strong long-term outlook.
The survey also revealed that 87% of affluent Asian investors already hold crypto, and around half have an allocation of more than 10%.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.