1, the behavior is different.

VC is the so-called venture capital, which is a kind of enterprise behavior.

PE invests in enterprises in seed stage, initial stage, development stage, expansion stage, maturity stage and Pre-IPO stage, so PE in a broad sense includes VC.

2. Different funds

The investment amount is over RMB 10, and several venture capitalists jointly invest hundreds of millions. In the past few years, VC mostly invested in dollars, and in recent years, RMB investment has gradually increased. The source of funds for VC is mainly foreign investment funds, and the local funds in China have also started to increase in recent years.

In a narrow sense, PE mainly refers to the private equity investment part of mature enterprises that have formed a certain scale and generated stable cash flow, mainly refers to the private equity investment part in the later stage of venture capital, in which M&A funds and mezzanine capital account for the largest part of capital scale.

3. Different exit mechanisms.

The exit mechanism of VC, such as selling to private equity funds or listing, is relatively common in China, while in the United States, it is mostly in the form of corporate mergers and acquisitions.

The exit mechanism of angel investment is generally sold to VC or private equity funds when the model is mature.

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