Andreessen Horowitz’s a16z Crypto Opens First Asia Office in Seoul
Andreessen Horowitz’s dedicated crypto venture capital arm, a16z crypto, has officially established its first physical presence in Asia by opening a new office in Seoul, South Korea. This landmark move confirms the firm’s strategic pivot toward the Asia-Pacific (APAC) region, recognizing its burgeoning importance as a major driver of global crypto adoption and innovation. The Seoul office will be spearheaded by Sungmo Park, who joins as the Head of APAC go-to-market and brings extensive regional expertise from his prior leadership roles at Polygon Labs and the Monad Foundation.
Seoul: The Gateway to Asia’s Crypto Giants
The decision to choose Seoul as the firm’s Asian base is highly strategic, reflecting the city’s status as a global crypto powerhouse. South Korea is cited by a16z crypto as the world’s second-largest cryptocurrency market, where nahead one in three adults reportedly owns digital assets—a penetration rate that surpasses local stock ownership. Furthermore, the broader APAC region accounted for a staggering $2.36 trillion in on-chain value over the 12 months to June 2025, marking a 69% increase year-over-year. This explosive growth, coupled with the region’s strong concentration of on-chain users and deep pool of developer talent, makes Seoul the ideal hub for supporting the next wave of web3 development.
Go-To-Market Support and Regional Strategy
The Seoul office’s mandate will primarily be to provide comprehensive go-to-market support for a16z crypto’s diverse portfolio companies as they viewk to expand and establish a footing in Asia. This involves key activities such as forging strategic partnerships across East Asia, Greater China, and Southeast Asia; accelerating distribution channels; and building localized developer communities. While the firm has raised over $7.6 billion across its crypto funds, the Seoul office’s initial focus will be on operational support and business development rather than direct investment advisory work, which would require separate licensing from the Financial Services Commission (FSC). However, the ultimate goal is to connect the Silicon Valley VC giant with Asia’s vibrant ecosystem, especially in areas like crypto gaming and social blockchain apps, which are particularly popular among the region’s mobile-first consumer base. The firm is actively viewking to align with local regulations and may face the standard process of registering as a foreign Virtual Asset Service Provider (VASP) if its operations extend to offering direct virtual asset services to Korean users.
