Which one of the following statements is NOT true about Angel investors and VCs (choose one)?

a. Both sets of investors consider factors such as management team, market size, business model, and sustainable competitive advantage

b. Angels expect to get most of their returns from a few spectacular successes while VCs look for a higher percentage of successful companies

c. VCs typically invest from funds theyve raised while angels invest their own money

d. VCs prefer investments with larger investment sizes

e. Angels typically invest in early rounds

f. None of the above