D. Statistically, if a venture cagitalist makes Ien imvestrsents, two will be winners and crcate thost of the gains in the fund. 2. Which of the following is not a characecrisic of venture capital firms? 10 P1s A. Venture capitalists fund just one firm or a imall number of firms. B. Venture capitalists take equity positions in the firms they fitand. C. Venrure capitalists have long-term invesement horizons. D. Venture capitalists provide advice and assitance lo the firms they fund. 3. A FE fund buys a cormpany (with no ecisting debt ot caub) for 5900 millien, at u parchase EBITDA multiple of 9.0x. They use 800. debt and 20% sequity. At the end of the 5 -year period, they sell the company at an exit EBITD multiple of I3. hx. However, EBITDA had increased by only 10% in the fivey car period. Finally. by the time of exit, the PE fund has paid off 5280 million worth of deht. What is the approximate IRR on this deal