The Venture Codex Logo

The Venture Codex

Industrial Bank

No. 398, Jiangbinzhong Avenue, Fuzhou, Fujian, 350014, China

Overview

Founded in August 1988 and headquartered in Fuzhou, Fujian Province, Industrial Bank (IB) is one of the first batch of joint-stock commercial banks approved by the State Council and the People's Bank of China, and the first Equator Bank in China. On February 5, 2007, IB was listed on Shanghai Stock Exchange (Stock Code: 601166) . At present, with a registered capital of 19.052 billion yuan, IB has become a national joint-stock commercial bank with sound governance, distinctive characteristics, great strength and quality service, staying stably among Global Top 50 Banks. The business scope of IB includes: taking deposits; granting short, middle and long-term loan; handle domestic and overseas settlement; handle documents acceptance and discount; issue financial bonds; issue, cash and sell government bonds as agent; trade government bonds and financial bonds; issue securities other than stocks as agent; trade securities other than stocks by itself or as agent; assets custody; inter-banking borrowing/lending; trade foreign exchange by itself or as agent; purchase or sell exchange; banking card business; L/C service and guarantee; agency collection and payment and insurance; safe deposit box; financial consultant, credit inquiry, consulting and witness; and other business as approved by Chinese banking regulators.

Total investments
2
Lead investments
1
Investments · 12mo
0
Active investors
2

Sector focus

  • Banking
  • Finance
  • Financial Services
  • Government
Visit website

Investment portfolio

  • t'order

    Led · Series B · Mar 2024

    t'order provides a comprehensive digital operating system and table-ordering platform for restaurants, designed to improve operational efficiency, generate new revenue streams, and enhance the customer experience. The solution integrates with major POS providers Toast and Clover to offer an enhanced experience for North American restaurant operators and chains. t'order also collaborates with large enterprise advertisers to develop real-time, data-driven ad campaigns based on factors such as table size, product type, location, and demographic profiles. The company has installed over 260,000 tablets nationwide in Korea and reports a monthly gross merchandise volume exceeding $317 million USD. Founded in 2019 and based in Seoul, t'order is currently valued at approximately $220 million USD. In 2024 it raised $23M in a Series B and has rapidly become Korea’s leading table-ordering platform. Torder operates a tablet-menu and table-ordering service and is the market leader in the table-order segment. The company supplies SaaS to large enterprises, VAN firms, and POS vendors and distributes about 10,000 tablets per month. Torder aims to reach 300,000 installations within the year. It began in the foodservice industry and is expanding its footprint into hotels and the advertising sector. Torder has started overseas expansion, establishing a Canadian subsidiary last year and planning to add subsidiaries in the U.S. and Singapore in the first half of this year. Investors have pointed to its ability to serve multiple industries and rapidly expand domestically and internationally as reasons for strong support.

  • Class101

    Participated · Series B · Nov 2023

    Class101 operates a global integrated subscription platform that launched in December and offers more than 5,300 classes spanning hobbies, career, money, and kids. Six months after the global subscription launch the company reached 150,000 paid subscribers. In September, on the first anniversary of its subscription conversion, Class101 achieved breakeven and reported monthly profitability. The company plans to use new funding to further refine its subscription service and to develop services that expand the experience spectrum for classmates and creators. Management says it will continue product development to strengthen market competitiveness and foster deeper creator–community interactions. The funding is presented as a springboard for more systematic and accelerated growth. CLASS101 is an online marketplace for creative classes that helps creators monetize skills by selling courses, goods and digital files. The platform provides and ships necessary tools and materials via a "Class Kit" and offers more than 2,000 classes across categories like drawing, crafts, photography, cooking and music. As of August 2021 it reports about 100,000 registered creators, roughly 3 million registered users, and 350 employees, with roughly 230 classes in the U.S. and 220 in Japan. The company was established in 2018 after pivoting from a tutoring-service platform founded in 2015. CLASS101 launched in the U.S. in 2019, entered Japan in 2020, and opened online classes for kids under 14 in 2020. It plans to use new funding to hire talent, expand domestic business and grow further in the U.S. and Japan while broadening creators' revenue streams. Class101 operates a hobby-focused platform where online users subscribe to “classes” to share interests and hone related skills. Its catalog includes illustration, calligraphy, handicrafts and cooking classes. The service targets users in their 20s and 30s seeking work–life balance and productive use of free time. The company emphasizes content production and platform development as strategic priorities, according to its lead investor. Class101 was founded in 2015 by Ko Ji-yeon, then an undergraduate at Ulsan National Institute of Science and Technology. Financially, the company has completed a new funding event, adding to an earlier seed round.

Team

  • Jian Li

    Financial Director and General Manager, Planning & Financial Department

  • Renjie Li

    President and Director