1, Private Equity Fund: Private Equity Fund is a fund that raises funds for specific investors and is managed and invested by private equity fund managers. Unlike Public Offering of Fund, private equity funds can only raise funds from investors who meet certain conditions and are subject to stricter regulatory restrictions.

2. Non-public offering funds: Public offering funds operate by raising funds from the public, while non-public offering funds raise funds through private consultation. The fund is only open to specific investors and not to the public.