SAFEs make it easy these days to add someone to the round (for any amount). The issue becomes time management (is it really worth hours of calls, responding to questions over email, etc) trying to close such a small check.
There's a secondary issue of wrangling each investor in subsequent rounds or an acquisition (which that can just gets kicked down the road). Some investors provide value beyond their money, mostly with their connections to other investors, connections to potential customers, and skills in certain areas, or just generally someone you can call for advice.
One thing I've learned having gone thru this process: it's common for angel investors to write small checks, though not common knowledge. I always thought you needed to write a $25-50k check to be able to invest in a startup. It's common for people in the industry to invest smaller amounts like $5k-$10k, sometimes even less than $5k. I've even now started doing it myself.
SAFEs make it easy these days to add someone to the round (for any amount). The issue becomes time management (is it really worth hours of calls, responding to questions over email, etc) trying to close such a small check.
There's a secondary issue of wrangling each investor in subsequent rounds or an acquisition (which that can just gets kicked down the road). Some investors provide value beyond their money, mostly with their connections to other investors, connections to potential customers, and skills in certain areas, or just generally someone you can call for advice.
One thing I've learned having gone thru this process: it's common for angel investors to write small checks, though not common knowledge. I always thought you needed to write a $25-50k check to be able to invest in a startup. It's common for people in the industry to invest smaller amounts like $5k-$10k, sometimes even less than $5k. I've even now started doing it myself.