Which of the following is not an illustration of the principle that "timing is everything" when raising capital for a startup? Investors specialize in certain points of the lifecycle of a business O It takes time to build relationships that lead to funding outcomes Some businesses are not well suited to some types of investors Capital providers are often complements, not substitutes O Raising too much money too early can be deadly Which of the following does not describe the liquidation rights that typically are associated with preferred equity securities? O They entitle the holder of the preferred equity to be paid before more junior shareholders. They typically require the repayment of the initial investment plus any accrued interest that remains unpaid. They offer downside protection to the equity investor. O They are surrendered if the security is converted to common equity. They prevent dilution from occurring if later rounds of investment occur at lower prices. -year life, Most VC partnerships have a with an option to extend. O 5 year O 7 year O 10 year O 12 year The hurdle rate for an investment with a success probability of 0.5, a holding period of five years, and an expected return of 10% is closest to: O 3.22 O 26% 82% O 11.63% O 1163%