Explanation:

Third option is correct.
An Initial Coin Offering (ICO) is used by start-ups to bypass the rigorous and regulated capital-raising process required by venture capitalists or banks.
When a crypto-currency start-up firm wants to raise money through an Initial Coin Offering (ICO), it usually creates a plan All the statements are correct.
Alternative Investment Funds are the investments which do not happen via the traditional modes of investment such as stocks, bonds, cash, property etc.
The other avenues have been put into the Alternative Investments, though there is no proper definition of AI.
Some of the alternative investments include the commodities, private equity, hedge funds, venture capital, and financial derivatives as well as assets such as paintings, other arts, wines, antiques coins and stamps.
The gains in these assets would be called capital gains and provisions accordingly would apply to them.
Investment into the Alternative Investment Funds is open to both Indian and foreign investors. It has been announced in Budget 2016 that the foreign investments will be allowed in alternative investment funds (AIFs).
Alternative Investments Funds come under the SEBI (Alternative Investment Fund) Regulations 2012. Under this regulatory regime, the funds which come under AIF are as follows:
1) Venture Capital Funds
2) PIPE (Private Investment in Public Equity ) Funds
3) Private Equity Fund
4) Debt Funds
5) Infrastructure Equity Fund
6) Real Estate Fund
7) SME Fund
8) Social Venture Funds
9) Strategy Fund (Residual Category, including all varieties of funds such as hedge funds, if any)