Is there anything you'd invest $10k on a $4mm pre in that you wouldn't invest $25k in on a $4mm pre? Assuming a $500k-1mm raise.

i.e., do you invest within your range based on your feelings about the investment, or just how oversubscribed the round is?

For me, a $10k investment and a $25k investment would take roughly the same amount of thought and time, so really it's just a 2.5x bigger payoff if you win.