> For the complete documentation index, see [llms.txt](https://docs.theangel.app/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.theangel.app/market-context/why-pre-seed-needs-reinventing/founder-challenges.md).

# Founder Challenges

* Slow and unpredictable fundraising
* Limited access to investor networks
* High dilution early in the company
* No liquidity pathway until a major exit