QUESTION ONE [45] 1.1 Write an essay on Venture Capital (VC). Your essay should incorporate the meaning of venture capital and the importance of financing such an initiative. (15) 1.2 Elaborate on the justifications for the acceptance of Islamic Venture Capital in the context of Islamic Finance. (15) 1.3 Discuss the various Islamic instruments that can be applied in context of venture capital. (15) QUESTION TWO [30] 2.1 Elaborate on the various stages of venture capital financing and comment on the justification for Venture Capitalists choosing to invest in various stages of the development of a business. (20) 2.2 Explain in detail how both Venture Capitalists and entrepreneurs benefit through a Venture Capital initiative. (10) QUESTION THREE [25] 2.1 Explain the term Islamic Private Equity. (5) 2.2 Outline the TWO fundamental requirements for the establishment of an Islamic Private Equity/Venture Capital. (5) 2.3 Discuss the specific considerations that are crucial in any Islamic Private Equity/ Venture Capital. (15)