Legal analysis: Conditions for setting up a partnership private equity fund: (1) A limited partnership enterprise shall be set up by two or more partners, but the number of partners shall not exceed 50, unless otherwise stipulated by laws and regulations. A limited partnership enterprise shall have at least one general partner; (2) Having a written partnership agreement; (3) The name of a limited partnership enterprise shall be marked with the words such as limited partnership.

Legal basis: Article 61 of the Partnership Enterprise Law of People's Republic of China (PRC), a limited partnership enterprise is established by two or more partners but not more than 50 partners; However, unless otherwise provided by law. A limited partnership enterprise shall have at least one general partner.