a qualified investor in a private equity fund refers to a unit or individual who has the corresponding ability to identify risks and bear risks, and the amount invested in a single private equity fund is not less than 1 million yuan and meets the following relevant standards: an individual with financial assets of not less than 3 million yuan or an average personal income of not less than 5, yuan in the last three years, in which financial assets include bank deposits, bonds, stocks, fund shares, asset management plans, bank wealth management products, trust plans, futures rights and interests, and insurance products. Units with net assets of not less than 1 million yuan.

In addition, the following investors should be regarded as qualified investors: social welfare funds such as charitable funds, social security funds, enterprise annuities and other pension funds; An investment plan established according to law and filed with the fund industry association; Private fund managers and their employees who invest in the private fund they manage; Other investors as stipulated by China Securities Regulatory Commission.

In addition, it should be noted that if a private equity fund is invested directly or indirectly by pooling the funds of most investors in the form of a partnership, a contract or other unincorporated person, the private equity fund manager or the private equity fund sales organization should thoroughly check whether the final investor can be judged as a qualified investor, and the number of investors needs to be consolidated.

However, if there are investors who meet the following conditions, it is no longer necessary to check whether the final investor is a qualified investor and calculate the number of investors in a consolidated way: social welfare funds such as charitable funds, social security funds, enterprise annuities and other pension funds.

according to the interim measures for the supervision and administration of private investment funds and other laws and regulations, private investment funds should be raised from qualified investors. Moreover, the cumulative number of investors in a single private equity fund should not exceed the specific number stipulated by the Securities Investment Fund Law and other laws. Where an investor transfers a fund share, the transferee shall be a qualified investor and the number of investors after the transfer of the fund share shall meet the original number. Among them, the number of investors in private equity funds established in the form of limited liability companies or partnerships shall not exceed 5, and the number of investors in other private equity funds shall not exceed 2.