'privately-led' originates from the combination of 'private' and 'lead,' where 'private' meant 'not public' and 'lead' meant 'to guide or direct.'

'Private' and 'lead' have been used in English since the Middle Ages, evolving into the modern compound adjective 'privately-led.'

Initially, 'private' meant 'not public,' and 'lead' meant 'to guide.' The compound form 'privately-led' retains this meaning, emphasizing non-governmental leadership.