Investments in unlisted companies. Investments in private equity are primarily differentiated according to financing stages. Venture capital is a private equity investment that is limited to companies in the process of development or expansion. Other forms of private equity investments are bridge financing (e.g. before an initial public offering or sale of a company), management buyouts (MBO) or turnarounds (takeover or participation in unprofitable companies that are to become profitable again by means of a change of management or other measures).