Venture capital firm Andreessen Horowitz (a16z) has opened a new office in Seoul, a major step in its expansion across Asia, with cryptocurrency and blockchain businesses taking priority.
According to reports, the Silicon Valley investment company said South Korea will serve as a base for supporting portfolio companies as they enter regional markets. The move comes months after the firm announced plans to strengthen its presence in Asia and reflects its growing interest in the region’s technology ecosystem.
Crypto leads a16z’s expansion strategy
The Seoul office will initially focus on crypto-related projects before broadening into other industries. The company plans to help its portfolio firms with hiring, business development, media relations, policy engagement, and partnerships across South Korea and neighbouring markets.
Park Sung-mo, who leads a16z Crypto’s go-to-market efforts in Asia-Pacific, will oversee operations from Seoul. According to Park, the firm’s role extends beyond funding, with a strong emphasis on helping startups scale and establish a foothold in new markets.
By choosing crypto as its first priority, a16z is signalling confidence in South Korea’s blockchain sector and the country’s potential as a gateway to the wider Asian market.
Why was South Korea chosen for this expansion?
The investment firm said it selected South Korea for its strong capabilities in artificial intelligence, advanced manufacturing, defence technology, digital assets, content creation, and consumer products.
The company also pointed to the country’s highly skilled workforce and rapid adoption of emerging technologies as key reasons for establishing a local presence.
With approximately $100 billion in assets under management, a16z expects its Seoul office to strengthen connections between global startups and local businesses while supporting expansion across Asia.
Recent crypto investments highlight focus on digital assets
The Seoul launch follows a series of major investments tied to digital assets and financial infrastructure. Earlier this month, a16z Crypto participated in a $355 million funding round for Digital Asset Holdings, contributing $100 million to support the company’s blockchain-based institutional finance platform, Canton Network.
The firm has also continued investing in artificial intelligence, recently leading a $250 million funding round for AI search startup Exa Labs. Additionally, Circle Internet Group agreed to sell 740 million ARC tokens for $222 million in a private placement led by a16z, valuing its Arc blockchain network at $3 billion on a fully diluted basis.
As it builds operations in Seoul, a16z appears set to build its involvement in Asia’s crypto ecosystem while using the city as a hub for more regional growth.
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