Compared with public offering, private placement refers to the sale of shares by a small number of qualified investors (usually less than 35), which can avoid the registration procedure with the US Securities and Exchange Commission (SEC).

Private equity investment (also known as private equity investment or private equity fund) is a very broad concept, which refers to the investment in any kind of equity assets that cannot be traded freely in the stock market.

Venture Capital (VC for short) is a conventional concept with specific connotation in China, but it is more appropriate to translate it into venture capital.

An investment company is a kind of financial intermediary, which concentrates the funds of individual investors and invests them in many securities or other assets.