I agree that you're likely to increase your potential deal flow in the long term by staying active. I suspect you'd also learn a hell of a lot about angel inves

I agree that you're likely to increase your potential deal flow in the long term by staying active. I suspect you'd also learn a hell of a lot about angel investing too, and build your network which may be an asset to the companies you're investing in. All of which would have far more effect on the bottom line than spreading risk - it's just that, unfortunately, there's no simple way to build a model of it!