Crypto firm a16z has officially established its presence in the Asia-Pacific region. Former Polygon Labs executive SungMo Park leads the new branch in South Korea. The fund attributes this expansion to the dominance of Asian countries in global digital asset adoption metrics.
Reasons For The Asian Focus
Managing Partner and COO Anthony Albanese attributed the location choice to the region’s high onchain activity. According to a16z, Asia accounts for a significant share of global crypto activity: 11 of the 20 countries with the highest cryptocurrency adoption levels are located here.
The fund plans to use the local office to scale portfolio companies, build strategic partnerships, and engage with the community.
“Our entry into the Asian market is just the beginning of shaping the fund’s geographic footprint. We intend to grow our capabilities to support our projects on the ground,” Albanese emphasized.
Leadership Appointment
SungMo Park will lead the South Korean division. Previously, he managed business development at Polygon Labs and holds established connections within the local industry.
“My task goes beyond simple access to a new market. I will provide a16z portfolio founders with the regional context understanding needed to effectively scale products in Asia,” stated Park.
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