1. According to Article 12 of the Securities Investment Fund Law, the fund manager shall be a legally established company or partnership. A natural person cannot be registered as a private fund manager.

2. The registered capital should be above 6,543,800+million.

3. At least three senior managers have the qualification of private equity fund. Those who meet one of the following conditions can be considered as qualified for private placement: passing the private placement qualification examination organized by the fund industry association; Engaged in investment management related business in the last three years; Other circumstances identified by the fund industry association.

4. The applicant institution has the premises, facilities and basic management system to meet the business needs.

The only companies that need private placement licenses and can apply for private placement licenses are investment management, asset management and fund management. Only: investment management, asset management, fund management and equity investment. The applicant company will be required to pay in full, and the official requirement is that the paid-in ratio is 25% or more than 1 10,000.

Legal basis:

Article 3 of Several Provisions on Strengthening the Supervision of Private Investment Funds: Without registration, no unit or individual may engage in private equity fund business activities by using "fund", "fund management" or similar names, except as otherwise provided by laws and administrative regulations. Private fund managers should mark the words "private fund", "private fund management" and "venture capital" in their names, and mark the words "private investment fund management", "private securities investment fund management" and "venture capital fund management" in their business scope that reflect the characteristics of private funds entrusted to be managed.