a16z Opens First Asia Office: Park From Naver and Monad to Lead

a16z crypto, the crypto-focused venture arm of Andreessen Horowitz, has officially entered the Asian market with the opening of its first regional office in Seoul, South Korea.

The Silicon Valley-based venture fund appointed Sungmo Park as Head of APAC go-to-market to lead the Seoul operations. Park brings extensive regional expertise from his previous roles at Monad Foundation and Polygon Labs.

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Asia Emerges as Global Crypto Powerhouse

Chief Operating Officer Anthony Albanese made the announcement. The decision to establish a physical presence in Asia reflects the region’s growing dominance in global crypto adoption. Chainalysis reports that Asia-Pacific accounted for $2.36 trillion in on-chain value over the 12 months to June 2025. This figure represents a 69% increase from $1.4 trillion in the previous year.

South Korea stands as the world’s second-largest crypto market, with nearly one in three adults holding digital assets—a rate that surpasses stock ownership. Japan has seen on-chain activity surge 120% over the past year. Singapore has one of the highest crypto ownership rates in the world. About 40% of Gen Z and Millennials in the country invest in digital assets.

India leads the Chainalysis Global Crypto Adoption Index, driven by mobile-first technology adoption and limited access to traditional banking. Notably, 11 of the top 20 countries in Chainalysis’s Global Crypto Adoption Index are located in Asia.

The Seoul launch follows other leading venture and crypto firms boosting their Asian presence. Competition for deals, talent, and growth is intensifying as the region’s influence expands. Gaming and social blockchain apps are especially popular in Asia’s mobile-first culture, presenting unique opportunities for a16z’s portfolio companies.

The Seoul office will support a16z’s portfolio companies as they enter Asian markets. It will also forge strategic partnerships across the region. The team aims to build lasting communities throughout Asia. Park will work directly with founders to strengthen market connectivity and accelerate crypto adoption throughout the region.

“This is just the beginning,” Albanese stated. “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.”

From Naver to a16z: Park’s Journey Through Web3

Park, born in 1993, began his career at Nomura in 2016. From there, he moved to IGA Works, ST Unitas, and Naver, where he worked as a product manager. In 2021, he entered the Web3 space and co-founded OnePlanet, a Polygon-based NFT marketplace backed by Animoca Brands and Hashed. He joined Polygon Labs in 2022 and rose to Korea Business Lead, then APAC Head of Business Development. At Monad Foundation, he served as APAC Lead. He helped build a Layer 1 blockchain capable of processing 10,000 transactions per second.