Multiple IN clause in SOQL query separated by AND

I have defined 2 sets investmentTeamIds and teamMemberIds, and I am using these sets in this SOQL query

List<InvestmentTeam__Share> investmentTeamShares = [
            SELECT Id
            FROM InvestmentTeam__Share
            WHERE ParentId IN :investmentTeamIds AND UserOrGroupId IN :teamMemberIds
];

I would like to understand if I use 2 IN clauses like this above, separated with AND, what kind of resultset will appear? Is this kind of inner join?

So let’s say that

Set<String> investmentTeamIds = new Set<String>{'A','B','C'};
Set<String> teamMemberIds = new Set<String>{'D','E','F'};

will the query check for both the values in the resultset?