Sungmo Koo to Lead APAC Crypto Push

• a16z opens its first Seoul office to anchor a larger Asia crypto and web3 push.
• New APAC head Sungmo Koo will help founders build local crypto communities across Asia.
• Strong adoption in Korea, Japan, India, Pakistan and Singapore anchors a16z’s Asia bet.

Andreessen Horowitz, better known as a16z, is expanding its crypto investment footprint in Asia through a new base in Seoul, South Korea. The venture capital firm said the Seoul office will be its first physical hub in Asia and a launchpad for backing crypto and web3 founders building local communities across the region.

Sungmo Koo To Lead APAC As a16z Targets Key Asian Markets

According to Chief Operating Officer Anthony Albanese, Sungmo Koo will join a16z as head of APAC to guide the firm’s growth in South Korea, Japan, parts of China, and the wider Asian market.

Moreover, Koo brings experience working with crypto projects such as Monad Foundation and Polygon Labs on their Asia strategies, and speaks several local languages, which a16z sees as critical for navigating regional regulation and founder ecosystems.

“SungMo will work closely with the founders in our portfolio, and also in his corporate network, to strengthen market connectivity and accelerate crypto adoption across the continent,” Albanese noted. 

Data Shows Asia’s Crypto Users Already Lead Global Adoption

Albanese highlighted how the crypto community across Asia has grown quickly under more supportive regulatory frameworks and active trading cultures. A recent a16z report found that nearly one in three South Korean adults owns digital assets, a share the firm says now exceeds the number of stock investors in the country. 

The venture firm also pointed to Japan, where it estimates onchain activity has climbed about 120% over the past year, supported by clearer rules around exchanges and token listings. In Singapore, a16z cited survey data showing that about 40% of Gen Z and Millennial users now hold crypto, underscoring how younger populations treat digital assets as part of normal portfolios. 

Related: Blockchain Throughput Hits 100x Growth, Now Exceeds Stripe & NASDAQ Peaks – a16z Report

Meanwhile, the 2025 global adoption index from Chainalysis placed India and Pakistan at number one and number three respectively, which a16z reads as evidence that Asia’s growth is broad rather than limited to a handful of financial centers. The firm sees Seoul as a practical base for serving founders across these fast-growing markets.

Seoul Office Anchors a16z’s Long Term Asia Crypto Strategy

a16z framed the Seoul opening as the first step in a broader Asia plan rather than a standalone outpost. “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,” Albanese wrote in the announcement.

The venture capital has been seeking to raise more funds, whereby in mid-October 2025, it was reportedly aiming to raise $10 billion to expand its investment portfolio.

Asia Expansion Aims To Link Capital, Talent And Regulation

The expansion bid in Asia will be mutually beneficial to the company, and the local economies. Moreover, Sungmo urged builders in the crypto, web3, and any other frontier tech focused in the APAC region seeking funding to connect with him or the venture capital.

Ultimately, the global web3 space will experience parabolic growth in the coming years as more institutional investors focus on connecting through tokenization in a regulated environment.

Related: a16z Lobbies FinCEN to Adopt ‘Privacy-First’ ZKP Identity for National Security