[TEMPLATE] Investment Memo

Company Overview

[What is the company one-liner?]

Mission / Vision

[What guides the organization and team?]

Highlights

Bullet 1
Bullet 2
Bullet 3

Key Risks

Bullet 1
Bullet 2
Bullet 3

Customer & Product

Target Market / Customer

[Who specifically is the initial customer]

Problem / Need

[What's the problem or void? How does the team know?]

Product & Wedge

[What is the product? Does it solve the pain point / need? Any dependencies?]

Defensibility

[What is defensible today or in the future?]

Go-To-Market

[What's the go-to-market? Is it feasible?]

Monetization

[How does the company plan to make money in the short and/or long term?]

Market

Why Now / Macro Trends

[What trends make this company and product possible?]

Market Size

[Is the market large, growing rapidly or emerging?]

Competition

[Who is the indirect / direct competition?]

Advantage

[Why do we like this company relative to the field?]

Traction

Product

[What has been built and shipped?]

Metrics

[What quantitative progress has been made so far?]

Unique Insights

[What unique insights has the team learned?]

Team

Core Team

[Who is on the team?]

Super Powers

[What's truly unique about the team?]

Core Traits

Can they ship and build product?

Are they leaders?

Do they understand the customer?

Do they love to experiment / learn?

Do they have tenacity, grit, hustle?

Do they have self-awareness?

Do they have unwavering conviction?

Are they on a mission?

Notes

Fundraise

Round Dynamics

[How much is the company raising, what are the terms, who else is involved?]

Roadmap & Milestones

[What are key business and product milestones over the 12-24 months?]

Decision Sanity Check

Do I have unwavering conviction?

Will I be proud to be an investor?

Can this be a category creator or leader?

Is this already great/awesome?

Can this be 100x?

Do I deeply believe in the founders?

Is this wedge / GTM feasible?

Can I add value?

Notes

Pitch Notes

[Enter call notes]

References

[Enter call notes]