is a venture capital enterprise with limited partnership. A limited partnership consists of a general partner and a limited partner. The general partner shall be jointly and severally liable for the debts of the partnership, and the limited partner shall be liable for the debts of the partnership to the extent of the capital contribution subscribed.

Limited partnership realizes the separation of enterprise management right and capital contribution right, and can combine the advantages of enterprise managers and funders, so it is the main organization form of foreign private equity funds. Blackstone and Sequoia, which we are familiar with, are all partnership enterprises.