Andreessen Horowitz’s crypto division has opened its first Asia workplace in Seoul, appointing SungMo Park as head of APAC go-to-market to guide regional enlargement.
The workplace will present working assist for a16z crypto portfolio firms searching for to scale throughout Asian markets, the agency’s COO Anthony Albanese announced Wednesday. Park will work with founders on regional technique, partnerships and group constructing all through the continent.
Park joins from Monad Basis, the place he served as APAC lead creating go-to-market and ecosystem methods throughout East Asia, Higher China, Southeast Asia and India. He beforehand led APAC enterprise improvement at Polygon Labs, specializing in enterprise partnerships and rising crypto initiatives.
The Seoul workplace represents a16z crypto’s first bodily presence in Asia because the agency expands assist infrastructure for portfolio firms working in the area. The agency stated it plans so as to add capabilities and discover additional geographic enlargement over coming years.
Maggie Hsu, associate and head of go-to-market at a16z crypto, said in a LinkedIn submit that Asia stays a key development marketplace for the agency’s portfolio firms. The Seoul workplace marks the start of deliberate enlargement throughout the area in coming years.
The transfer follows knowledge from a16z crypto’s State of Crypto report displaying important onchain exercise focus in Asia. South Korea represents the second-largest crypto market globally, with almost one in three adults proudly owning cryptocurrency, surpassing inventory possession charges.
Singapore has among the many world’s highest crypto possession charges, with 40% of Gen Z and millennials holding digital property. Japan has seen onchain exercise develop 120% over the previous yr, whereas India ranked first in Chainalysis’s International Crypto Adoption Index, with 11 of the highest 20 international locations positioned in Asia, based on the agency.
