Xinben Consulting needs to distinguish between equity and securities when handling private placement licenses. 1. Generally, at least two senior executives (legal person, risk control) are required to have fund qualification certificates, 2. There are qualified main companies, 3. Actual office space, and 4. 25% (at least 2,500,000) of the registered capital has been paid in, and the private equity fund can only be established after the private equity license is obtained.