Industrial investment fund is a big concept, which is usually called venture capital fund and private equity investment fund abroad. Generally speaking, it refers to the unlisted enterprises with high growth potential to invest in equity or quasi-equity, and participate in the operation and management of the invested enterprises, so as to realize capital appreciation through equity transfer after the invested enterprises mature.

According to the different stages of the target enterprise, industrial funds can be divided into seed stage or early stage funds, growth stage funds, restructuring funds and so on. Industrial funds involve many parties, including fund shareholders, fund managers, fund custodians, accountants, lawyers and other intermediary service institutions, among which the fund manager is the institution responsible for the specific investment operation and daily management of the fund.