1. Pre-preparation: Before the establishment of the fund, it is necessary to select legal persons and fund managing partners to determine the investment direction of the fund, the amount raised in the first phase of the fund, and the working place. The sponsors or organizations of the fund raising need to prepare their own funds of 1% of the total raised funds;

Second, a clear division of labor: after the preparation of the first step is completed, the person in charge of the fund will set up a preparatory group or Committee for private fund recruitment to clarify the division of labor. Determine the target group and draw up the investment agreement;

Third, find the target group and start raising funds. When the raised funds reach 70% of the planned amount, the fundraiser can register with the Industrial and Commercial Bureau.

Fourth, after the successful registration of fund raising, the fund sponsors can convene a general meeting of fund shareholders, at which all legal documents required for the establishment and development of the fund need to be confirmed.

5. Select a fund custody bank and sign a custody agreement with the bank.