VC Fund is a special fund for investing in start-ups and provides funds and support for innovative enterprises with high risk and high potential. Venture capital funds usually invest in early-stage startups to help them achieve rapid growth and market expansion. The investment strategy of VC funds pays more attention to innovation, technological leadership and market potential, and investors usually expect to get high returns through successful start-ups. Buy-out fund (private equity fund) is a kind of fund that obtains investment return by buying existing enterprises. The strategy of purchasing funds is to manage and transform the target company by purchasing control rights or major shareholders' rights and interests, so as to realize value-added and profitability. Buy-out funds usually invest in mature enterprises or enterprises in trouble, improve the value of enterprises by improving management, integrating resources and optimizing structure, and withdraw from investment after a certain period of time to obtain returns.