M&A equity fund is an equity investment fund that acquires the control right of the target enterprise by acquiring the equity of the target enterprise and reorganizes or improves the operation of the target enterprise. The investment targets of M&A equity funds are mainly mature enterprises, and the purpose of M&A is to gain control of the target enterprises.

Equity investment funds refer to investment funds that raise funds from specific investors in a non-public way and invest in specific objects. By means other than mass communication, the promoters set up investment funds by pooling the funds of non-public multi-subjects to invest in stocks, equity, bonds, futures, options, fund shares and other investment funds agreed in the investment contract.