The so-called public offering is a public offering. Here are two things to help you understand: the first is that you can advertise and raise money from all the people you know and don't know. The second is that the number of proposed objects is relatively large, for example, it is generally defined as more than 200 people.
Private placement fund refers to a securities investment fund that collects fund funds from specific investors in a non-public way and invests in securities.
The so-called private placement is private placement. Relatively speaking, private placement is easy to understand: first, advertising is not allowed. Second, it can only be raised from specific objects. The so-called specific target has two meanings, one is that the other party has money and certain risk control ability, and the other is that the other party is a specific industry or a specific category of institutions or people. Third, the number of private investors is generally small, such as less than 200.