Private Cloud
A private cloud is a cloud computing environment dedicated to a single organization. Any cloud infrastructure has underlying compute resources like CPU and storage that you provision on demand through a self-service portal. In a private cloud, all resources are isolated and in the control of one organization.

Virtualization
Virtualization is the technology that abstracts IT resources from their underlying physical hardware. Users can create virtual machines or software units and interact with them in the same way as physical machines. Virtualization software pools together hardware resources like CPU, memory, or storage and allocates them to the virtual machines on demand.