Andreessen Horowitz’s cryptocurrency arm, A16z Crypto, has opened its first office in Asia, in South Korea, and plans to expand its presence in the region.
The company said Asia has a «particularly high concentration» of blockchain users, and the expansion aims to support portfolio companies with growth, partnerships, and community building across the region.
Our expansion will enable us to provide market entry support to portfolio companies seeking to accelerate growth, build strategic partnerships, and create sustainable communities across Asia,” said Managing Partner and Chief Operating Officer a16z Crypto Anthony Albanese.
Albanese said the region accounts for a significant share of global cryptocurrency activity, with nearly a third of South Korea’s adult population owning tokens.
The new Seoul office will be headed by Sungmo Park from Polygon Labs.
“With the connections, experience, and relationships I’ve built over my years in the industry, I’ll help the founders of a16z Crypto not only enter a new market but also gain access to the regional context and knowledge needed to scale,” said Pak.