How to change drop down menu for registering guests for an event?

When a guest registers, they pick their category (e.g. Limited Partner, Venture Capitalist, Other).  How can we change the wording in these categories?  For instance, my fund is more private equity than venture capital.  While I love my VC brothers and sisters :-), I would like to change the Venture Capitalist category to something different....more general like VC/PE Fund Manager or something like that.  Thank you.