Contract fund. It refers to the establishment of a private equity fund in the form of a contract, and the fund manager, investors and other fund participants exercise corresponding rights and assume corresponding obligations and responsibilities in accordance with the contract. Partnership fund. An investor establishes an investment fund limited partnership enterprise according to the Partnership Enterprise Law, in which the general partner bears unlimited joint and several liabilities for the partnership debts, and the fund manager is specifically responsible for the investment operation.
Legal basis: Article 2 of the Partnership Enterprise Law of People's Republic of China (PRC) refers to general partnership enterprises and limited partnership enterprises established in China by natural persons, legal persons and other organizations according to this law. A limited partnership consists of a general partner and a limited partner, and the limited partner shall be liable for the debts of the partnership to the extent of the capital contribution subscribed by him.