a16z, Seoul Office Officially Opens

Global venture capital firm Andreessen Horowitz (a16z) has officially opened its Seoul office. The company said on the 15th that it established the base to support the expansion of its portfolio companies into the Korean and Asian markets. a16z had been pushing ahead with establishing the Seoul office after announcing its plans to enter Asia last December. Park Sungmo, head of a16z Crypto's gotomarket efforts in the AsiaPacific region, is expected to lead activities centered on the Seoul office. Founded in 2009, a16z is a major VC firm managing more than $100 billion and is known for making early investments in Coinbase, OpenSea, Airbnb, and Instagram. The company has chosen Korea as its Asia base, viewing it as the world's secondlargest virtual asset market, and plans to initially focus on the crypto sector before expanding the scope of its activities.