I've heard a different take on this from an entrepreneur who raised several time in the past. His strategy was to raise small amounts for 20-30 angels investors

I've heard a different take on this from an entrepreneur who raised several time in the past. His strategy was to raise small amounts for 20-30 angels investors at the seed round with the assumption that when he needed more money it would be easier to ask from someone who already invested 25k to double down on the investment than from someone who invested 100k (which is probably high for the average Angel).