Investment Memo Template
Make your case with clarity
Investment decisions often hinge on how well the opportunity is framed. That’s why we created the Clockwork Investment Memo Template, a structured, comprehensive guide designed to help you clearly articulate an investment thesis, evaluate the underlying fundamentals, and outline risks and returns with rigor.
Whether you’re an investor formalizing your internal process or a founder preparing for due diligence, this template gives you a proven framework for synthesizing complex information into a cohesive memo.
Why It Matters
A good investment memo is more than a formality, it’s a discipline. It forces critical thinking, highlights deal strengths and weaknesses, and aligns teams around what matters most. By standardizing how opportunities are analyzed and presented, memos improve decision-making and institutional memory, especially as private markets grow more competitive and complex.
What’s Inside the Template
This tool covers the full spectrum of memo components, structured into ten essential sections:
Executive Summary
A concise overview of the company, terms, return potential, risks, and core investment rationale.
Market Analysis
Assess TAM, SAM, SOM, and growth trends. Identify the market tailwinds, risks, and regulatory dynamics that shape the opportunity.
Business Overview
Explain how the company operates, makes money, acquires customers, and delivers value. Include product roadmap and core strategy.
Financial Analysis
Review historical performance and forward projections. Highlight margins, revenue growth, burn rate, and key KPIs.
Competitive Landscape
Map the market. Include direct and indirect competitors, differentiators, SWOT analysis, and market share estimates.
Management Team
Show why the team is built to execute. Include founder experience, key hires, and any gaps or succession plans.
Investment Thesis
Synthesize the opportunity into a clear case. Why this company, why now, and why you.
Risk Factors and Mitigation
Identify major risks across financial, operational, regulatory, and technical fronts, and how they will be managed.
Valuation and Transaction Structure
Explain how the deal is priced, what you’re buying, and how the equity is structured post-investment.
Exit Scenarios
Forecast likely paths to liquidity, expected timeline, and potential returns. Include waterfall modeling if possible.
Pro Tips
Be specific
Avoid generalities and vague projections. Anchor claims in real data.
Stay Objective
Include both strengths and risks. Memos are tools for decision-making, not sales decks.
Adapt to stage and deal-type
Not every section fits every deal. Use the framework flexibly.
Build institutional memory
Use a consistent format to track decisions across your portfolio.
Ready to Write Better Memos?
Use the Clockwork Investment Memo Template to sharpen your process, improve internal communication, and evaluate deals with more clarity.
Thank you! Click here to download the template.
Looking for more? Explore our Pitch Deck Guide, Cap Table Template, and SAFE Term Sheet.
