Case: Forte Ventures1. Evaluate the situation facing the Forte founders in April 2001 and the Private Placement Memorandum (PPM) (Appendix A) prepared to convince institutional investors to invest.2. What should Maclean Palmer and his partners do and why?3. What are the economics of the venture capital business? Assume that Forte is a “top quartile” fund in terms of performance. What will the cumulative pay checks and distributions to the limited partners and the general partners be over 10 years?