Which statements are true about staged financing rounds?

1) If the company fails to reach its milestones, the VC firm is typically released from its contractual obligation to provide further financing

2) The full payout of the total financing amount is only available to the company, if pre-specified milestones are achieved

3) Capital needs are met through several financing rounds

4) If the company reaches a certain stage, the VC gives its shares back to the founders

more than 1 answers could be corect