Which of the following statements is false?

A) A venture capital firm is a partnership that specializes in raising money to invest in the private equity of young firms.

B) Venture capitalists typically control about half of the seats on a start-up's board of directors, and often represent the single largest voting block on the board.

C) The initial capital that is required to start a business is usually provided by the entrepreneur herself and her immediate family.

D) Individual investors who buy equity in small private firms are called angel investors.

E) None of the above