True or False, provide reasoning:

a) Consider a firm A which has a lot of cash. A poison pill in the corporate charter of firm A is designed to protect shareholders of firm A because it makes inefficient acquisitions by the management of firm A more difficult.

b) When a venture capital fund invests in a portfolio company, the venture capitalist typically requires a carry of 20% of the profit made by the portfolio company.

c) A limited partner in a private equity fund is the person who makes decisions to invest in portfolio companies. In the terminology of agency theory, he is the agent.