> 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/investor-challenges.md).

# Investor Challenges

* Illiquid investments with decade-long lockups
* Siloed deal access
* Lack of early-stage transparency
* High-risk, low-data environment

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