All of the following statements are correct except:

a)Venture capitalists usually are members of partnerships that consist of a few general partners.

b)The typical venture capital partnership manages between $500 million and $1billion in assets.

c)It is common to organize a venture capital fund as a limited partnership in which the venture capitalist is the general partner and the other investors are limited investors.

d)At the end of a fund's life, cash and securities are distributed to the investors.