More money required than originally forecasted is a typical occurrence in startups
Sorry my original post wasn't very clear. I meant that I have decided not to invest in any new companies, in part because because I have generally been following on, and as these are taking longer and more money that has been quite a few extra rounds (on top of the further rounds that I expected).
... but the risk should be a bit lower, as the company will have gained a little traction and you have a little more information on their performance.
Working out if it is lower risk is something that I am finding hard. Generally sales are increasing, but at a lower rate than expected, or the device is delayed because of improvements in it or in the manufacturing process. I struggle to know what I should think.