Every investment deserves a written memo. Writing forces clear thinking and creates a record for future reference. Use this checklist to structure your memos.
Executive summary (1 paragraph): What does the company do? Why are you investing? How much at what terms?
Company overview (1 page): Problem, solution, product, traction, team. Include GitDealFlow signal screenshot for engineering velocity.
Market (1 page): TAM, SAM, SOM. Market timing. Competitive landscape. Why this company wins.
Founders (1 page): Background, domain expertise, references, commitment. Why this team can win.
Deal terms (1 page): Round size, valuation, your check size, ownership %, pro-rata rights, board seat.
Risks and mitigants (1 page): What could go wrong? How is the team mitigating these risks?
Conclusion: Conviction level (1-10), why you're investing or passing, conditions for follow-on.