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Can the village committee become the investor or shareholder of the private enterprise?
You can't.

The Provisions on Several Issues Concerning the Administration of Company Registration has corresponding provisions:

Article 18? In rural areas, collective economic organizations perform the functions of collective economic management, and rural collective economic organizations are the main investors; If there is no collective economic organization, the villagers' committee shall be the representative of the collective economic management function.

Villagers' committees can set up companies as investors. When a villagers' committee invests in the establishment of a company, it shall make a resolution. Urban residents' committees with investment ability can invest to set up companies.

Extended data:

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Provisions on several issues concerning the management of company registration;

Article 25 Where a joint stock limited company is established by offering, the minutes of the founding meeting and the capital verification certificate issued by a legally established capital verification institution shall also be submitted; If the company's articles of association violate the law, the company registration authority has the right to require the company to make corresponding amendments.

Where a joint stock limited company is established by public offering, the approval documents of the securities regulatory authority of the State Council shall also be submitted. Where the establishment of a joint stock limited company is required by law or the State Council's decision, relevant approval documents shall also be submitted.

Article 26 Where the business scope of a company applying for registration belongs to the items that must be approved before registration according to laws, administrative regulations or the State Council decisions, it shall report to the relevant state departments for approval before applying for registration, and submit relevant approval documents to the company registration authority.

Baidu Encyclopedia-Provisions on Several Issues of Company Registration Management