two are different concepts.

crowdfunding means that financiers raise small amounts of money from the public through the internet.

the main types are: donation, return and investment. The water droplets you see are donated, while crowdfunding movies are rewarded.

as for investment crowdfunding, it can be divided into public crowdfunding and private crowdfunding according to different distribution methods.

Private placement, you can understand that raising funds from a few people generally requires investors to have certain risk identification ability.