Andreessen Horowitz’s venture arm expands into South Korea’s active crypto hub, citing strong onchain activity and developer ecosystem in the region.
A16z crypto, the venture capital arm of Andreessen Horowitz, is establishing its first Asian office in Seoul, South Korea, and has appointed Sungmo Park to lead regional operations. The fund cited South Korea's position as the world's second-largest crypto market, nearly one-third of its adults owning crypto, and its strong developer ecosystem as key reasons for the location choice over other Asian financial hubs. The Seoul office will focus on building partnerships, strengthening distribution channels, and accelerating community growth, engaging both early-stage teams and established enterprises. Park brings prior experience from Monad Foundation and Polygon Labs, where he oversaw go-to-market and ecosystem development efforts across East Asia, Greater China, Southeast Asia, and India.