Consider the following statements regarding Alternative Investment Funds (AIFs) and Venture Capital Funds (VCFs):
1. AIFs are privately pooled investment vehicles that collect funds from sophisticated investors for investing in accordance with a defined investment policy.
2. Venture Capital Funds (VCFs) registered under the SEBI (Venture Capital Funds) Regulations, 1996 can continue to launch new schemes under the same regulations.
3. Existing VCFs can seek re-registration under SEBI (Alternative Investment Funds) Regulations, 2012, with the approval of two-thirds of investors by the value of their investment.
Which of the above statements is/are correct?

Correct option is C

Statement 1 is correct: AIFs are privately pooled investment vehicles for sophisticated investors, whether Indian or foreign.
Statement 2 is incorrect: VCFs registered under the SEBI (Venture Capital Funds) Regulations, 1996 cannot launch new schemes under these regulations, as they were repealed.
Statement 3 is correct: Existing VCFs can seek re-registration under the SEBI (Alternative Investment Funds) Regulations, 2012, subject to the approval of two-thirds of their investors by value.