The private equity fund industry is a capital market activity that focuses on investing in equity of non listed companies.Its activities involve multiple business nodes such as fundraising,investment,management and withdrawal.Business has the characteristics of long cycles and high risks.This paper analyzes the current development status of China's private equity industry and explores key risk points in various business processes such as fundraising,investment,management and withdrawal.They include industry selection,project sources,and decision-making efficiency.Based on these risk points,the paper proposes control strategies and measures in mechanism building,team capacity building,and post investment resource support.These strategies are expected to help practitioners develop with high quality,operate steadily,and better serve the needs of China's economic transformation and upgrading.