Which of the following is NOT true about VCS? a. VCs tend to focus on certain industries such as software, biotech, med devices, IT, etc. Ob. VCs tend to target returns 5 to 10 times their initial investment in 3-5 years. OCVCs assume at least 8 out of 10 companies they invest in will ultimately be a success. d. VC firms are heavily concentrated in California, Massachusetts and New York. QUESTION 8 Which of the following statements is FALSE. Choose ALL that apply. a. Angel groups allow individual angel investors to spread out risk b. Angel investors tend to invest at a later stage than VCS c. Deat complexity tends to be greater with VC and strategic investors than with angel investors d. Angel investors tend to close deals more quickly than VCS