Requirements for the establishment of industrial funds: the investment direction of the fund must conform to the national industrial policy; The promoters must have more than 3 years of industrial investment or related business experience, and have continuously protected their good financial situation within 3 years before filing the application, and have not been severely punished by the relevant competent authorities or judicial institutions; Legal persons other than industrial fund management companies and industrial fund management partnership companies as promoters, with paid-in capital of not less than 200 million yuan; If a natural person is the promoter, the net assets of each promoter shall not be less than 6,543,800 yuan; Industrial funds with a scale of less than 5 billion yuan only need to be filed with the National Development and Reform Commission, and those with a scale of more than 5 billion yuan need the approval of the National Development and Reform Commission.

Industrial investment fund is a big concept, which is usually called venture capital and private equity investment fund abroad. Generally speaking, unlisted enterprises with high growth potential 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.

Industrial investment funds have the following main features:

First, the investment targets are mainly non-listed enterprises.

Second, the investment period is usually 3-7 years.

Third, actively participate in the operation and management of the invested enterprises.

Fourth, the purpose of investment is to promote the development of enterprises through investment based on the potential value of enterprises, and realize capital appreciation benefits through various exit methods at the right time.

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.

Corporate industrial investment funds exist in the form of joint-stock companies or are established in the form of limited partnerships. Each investor of the Fund is a shareholder or investor of the Fund Company, and has the right to make suggestions and queries on the operation of the company (enterprise).

The corporate industrial investment fund is a legal person (partner), and the power of the management company hired is limited, and the ownership and management rights are not completely separated. Investors will influence the decision-making orientation of the company to varying degrees, thus restricting the management operation of the fund by the management company to a certain extent.

Contractual industrial investment funds do not exist in the form of joint-stock companies. Investors are not shareholders, but only the parties in trust deed and the beneficiaries of funds, and have no right to participate in management decisions. Contractual industrial investment funds are not legal persons, and management companies must be entrusted to manage and operate the fund assets. Ownership and management rights are completely separated, which is conducive to the long-term stable operation of industrial investment funds.

Because the management company has enough power to manage and operate the fund, the asset control right of contractual industrial investment funds will not be affected by the intention of many small investors to pursue short-term interests, which is in line with the operation mode of modern enterprise system.