Legal analysis: Fund raising methods are divided into Public Offering of Fund and private equity funds. Public Offering of Fund refers to the second-class funds that can be sold to the public; Private equity funds refer to funds that can only be raised and sold to specific investors in a non-public way. The public offering fund mainly has the following characteristics: the fund share can be publicly offered and recommended to the public, and the target of raising funds is not fixed; Low investment requirements, suitable for small and medium investors to participate; Must abide by the laws and regulations of the fund, and accept the strict supervision of the regulatory authorities. Compared with Public Offering of Fund, private equity funds can't be sold and promoted publicly, and the investment amount is high, so there are often strict restrictions on the qualifications and number of investors. According to the relevant laws of the United States, the number of investors in private equity funds shall not exceed 100, and the net assets of each investor must be above $6,543.8+0,000.

Legal basis: People's Republic of China (PRC) Securities Investment Fund Law.

Article 17 The directors, supervisors, senior managers, other employees, their spouses and interested parties of the fund manager who publicly offers funds shall report to the fund manager in advance when engaging in securities investment, and shall not have conflicts of interest with the fund share holders.

The fund manager of a publicly offered fund shall establish a management system for the declaration, registration, examination and disposal of securities investment by the personnel specified in the preceding paragraph, and report it to the the State Council Securities Regulatory Authority for the record.

Article 18 The directors, supervisors, senior managers and other employees of a fund manager who publicly offers funds shall not hold the post of fund custodian or other fund managers, nor engage in securities trading or other activities that harm the interests of fund property and fund share holders.