Which one of the following is true regarding venture capitalists? I. They are large shareholders of the issuing firms and exit their investment in initial public offerings. II. They are large investors who want to buy the shares in initial public offerings. III. They tend to invest in young risky ventures. IV. They like underpricing in initial public offerings.

A. I and II

B. I and IV

C. I, III, and IV

D. I, II, III, and IV