Group 1 - Thoma Bravo Capital has completed regulatory filings for its QFLP private equity fund targeting the Chinese market, expected to launch within two months [1][3] - The fund's establishment involved extensive preparation over five years, including multiple trips by executives to understand China's private fund regulations and foreign exchange requirements [3] - The fund will allocate 60% of its capital to new energy and intelligent manufacturing, 30% to the digital economy, and 10% to life and health sectors, aligning with China's 14th Five-Year Plan [4] Group 2 - The fund will utilize a dual-currency structure, with USD entering through the QFLP channel and RMB being raised simultaneously, and has over 20 Pre-IPO projects in reserve [4] - The partnership with Yixing Team, which specializes in internet, new energy, and AI sectors, reflects a strategic move towards localized investment management in China [6] - The five-year strategy includes initial fundraising and project investments in the first year, followed by efforts to list portfolio companies on the Sci-Tech Innovation Board or the ChiNext in the subsequent years [4][6]