Which of the Following Statements Is FALSE

Which of the following statements is FALSE?

A) Institutional investors such as superannuation funds, insurance companies, endowments, and charities manage large quantities of money.
B) The general partners work for the venture capital firm and run the venture capital firm; they are called venture capitalists.
C) When a company founder decides to sell equity to outside investors for the first time, it is common practice for private companies to issue ordinary shares rather than preference shares to raise capital.
D) An important consideration for investors in private companies is their exit strategy - how they will eventually realise the return from their investment.