This seems like a dangerous justification for the sunk cost fallacy. If you get in early on an investment, you become partial to the company based on the relati

This seems like a dangerous justification for the sunk cost fallacy. If you get in early on an investment, you become partial to the company based on the relationships you have created and your understanding of the market. Although that might allow you to have a better investment criteria for a following round, you could posit the question of whether another investment opportunity is the more sound choice. On the topic of dollar cost averaging, you are reducing your risk within the investment based on timing but that is too much of a micro level view of the power and value of the investment dollar.