Since this year, in the primary market, special funds have heated up markedly. Since capital is invested in a single project with strong certainty, the fund size is small, and the investment efficiency is high, special funds have become a powerful “weapon” for many venture capital and private equity investment institutions' “card position” high-quality projects. The “Measures for the Supervision and Administration of Private Equity Fund Raising” recently issued by the Securities Regulatory Commission raised the threshold for natural person limited partners to invest in special funds in terms of investment experience, asset size, and investment threshold. Industry insiders analyzed that the goal of supervision is to “support the good and limit the bad”, so that institutions that really understand the industry and invest can stay behind, and let institutions that simply rely on arbitrage and earn channel price differences go out of the market. This is an industry consensus, and it is also the key to the healthy development of the industry.

Since this year, in the primary market, special funds have heated up markedly. Since capital is invested in a single project with strong certainty, the fund size is small, and the investment efficiency is high, special funds have become a powerful “weapon” for many venture capital and private equity investment institutions' “card position” high-quality projects. The “Measures for the Supervision and Administration of Private Equity Fund Raising” recently issued by the Securities Regulatory Commission raised the threshold for natural person limited partners to invest in special funds in terms of investment experience, asset size, and investment threshold. Industry insiders analyzed that the goal of supervision is to “support the good and limit the bad”, so that institutions that really understand the industry and invest can stay behind, and let institutions that simply rely on arbitrage and earn channel price differences go out of the market. This is an industry consensus, and it is also the key to the healthy development of the industry.