"Alternative Investments":Venture capital investment

C is correct. Alternative investments are less regulated and transparent than traditional investments such as equity and debt securities.

A is incorrect because narrow manager specialization is a characteristic of alternative investments.

B is incorrect because a characteristic of alternative investments is that the underlying investments are illiquid.

C is correct. Early-stage financing is capital provided for companies moving toward operation but before commercial manufacturing and sales have occurred.

A is incorrect. Later-stage financing is provided after commercial manufacturing and sales have begun but before any initial public offering.

B is incorrect. Seed-stage financing is capital provided for a business idea.