Spray and pray vs concentrated angel investing hinges on PMF, says VC
dunkhippo33 · x · 2026-10-12
Part 2-3 of the thread: investors split between "spray and pray" and concentrated portfolios. The author argues both are correct depending on one factor — whether the company has achieved product-market fit. Post-PMF allows concentration; pre-PMF calls for a larger portfolio to mitigate downside risk.
Related event: VC dunkhippo33 advises angel portfolios of 50 to 100 companies(9 posts)→
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