investment-memo

投资备忘录技能

概述

我可以帮助你为各种场景撰写专业的投资备忘录（IC 备忘录），包括风险投资、私募股权、对冲基金或内部投资委员会。我会梳理投资论点、分析风险，并给出清晰的建议。

我可以做什么：

• 清晰梳理投资论点
• 总结尽职调查的关键发现
• 分析风险及缓解措施
• 展示估值和回报分析
• 起草可执行的建议
• 按投资委员会审阅要求进行排版

我不能做什么：

• 开展一手尽职调查
• 以建议的形式提供投资推荐
• 获取专有交易数据
• 取代专业的投资判断

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如何使用

步骤 1：提供投资背景

请告诉我：

• 投资类型（VC/PE/上市公司/信贷）
• 公司/交易概况
• 投资金额和条款（如已知）
• 你所在公司的投资标准

步骤 2：分享尽职调查发现

请提供：

• 公司背景和财务数据
• 市场和竞争分析
• 管理层评估
• 已发现的主要风险
• 估值分析

步骤 3：指定备忘录格式

• 标准 IC 备忘录：完整的正式备忘录
• 交易摘要：1-2 页概览
• 简要观点：简短的投资论点
• 后续投资备忘录：更新现有持仓情况

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备忘录结构

VC 投资备忘录

1. Executive Summary
   - Company, stage, ask
   - Investment thesis in 3 bullets
   - Recommendation

2. Company Overview
   - Problem/Solution
   - Product and traction
   - Business model

3. Market Opportunity
   - TAM/SAM/SOM
   - Market trends
   - Timing

4. Team
   - Founders background
   - Key hires
   - Board/advisors

5. Competitive Landscape
   - Key competitors
   - Differentiation
   - Moat potential

6. Traction & Metrics
   - Key KPIs
   - Growth trajectory
   - Unit economics

7. Investment Terms
   - Round size, valuation
   - Pro-forma cap table
   - Use of funds

8. Risk Analysis
   - Key risks and mitigants

9. Recommendation
   - Investment decision
   - Ownership target
   - Value-add plan

PE 投资备忘录

1. Executive Summary
2. Investment Thesis
3. Business Overview
4. Industry Analysis
5. Financial Performance
6. Management
7. Transaction Overview
8. Value Creation Plan
9. Financial Projections
10. Returns Analysis
11. Risk Factors
12. Recommendation

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输出格式

# INVESTMENT MEMORANDUM
## [Company Name]

**Prepared for**: [Investment Committee / Fund Name]
**Date**: [Date]
**Prepared by**: [Analyst Name]
**Classification**: Confidential

---

## EXECUTIVE SUMMARY

### The Opportunity
[2-3 sentence description of the company and investment opportunity]

### Investment Ask
| Metric | Details |
|--------|---------|
| Round | [Series X / LBO / etc.] |
| Amount | $[X]M |
| Pre-money Valuation | $[X]M |
| Our Investment | $[X]M for [X]% |
| Lead/Co-invest | [Lead / Co-invest] |

### Investment Thesis
1. **[Thesis Point 1]**: [1-2 sentence explanation]
2. **[Thesis Point 2]**: [1-2 sentence explanation]
3. **[Thesis Point 3]**: [1-2 sentence explanation]

### Key Risks
1. [Risk 1]
2. [Risk 2]
3. [Risk 3]

### Recommendation
**[INVEST / PASS / MORE DILIGENCE NEEDED]** at $[X]M for [X]% ownership

---

## 1. COMPANY OVERVIEW

### Background
[Company history, founding story, key milestones]

### Problem & Solution
**Problem**: [What problem does the company solve?]
**Solution**: [How does the company solve it?]

### Business Model
[How the company makes money]

| Revenue Stream | Description | % of Revenue |
|----------------|-------------|--------------|
| [Stream 1] | | |
| [Stream 2] | | |

### Product
[Description of product/service, key features, differentiation]

---

## 2. MARKET OPPORTUNITY

### Market Size
| Segment | Size | Growth | Notes |
|---------|------|--------|-------|
| TAM | $[X]B | [X]% | |
| SAM | $[X]B | [X]% | |
| SOM | $[X]B | [X]% | |

### Market Trends
1. [Trend 1]
2. [Trend 2]
3. [Trend 3]

### Why Now?
[Market timing thesis]

---

## 3. COMPETITIVE LANDSCAPE

### Competitive Position
[How the company positions against competitors]

### Key Competitors
| Competitor | Funding | Strengths | Weaknesses |
|------------|---------|-----------|------------|
| [Comp 1] | $[X]M | | |
| [Comp 2] | $[X]M | | |

### Sustainable Advantages
- [Moat 1]
- [Moat 2]

---

## 4. TEAM

### Founders
| Name | Role | Background | Equity |
|------|------|------------|--------|
| | CEO | | |
| | CTO | | |

### Management Assessment
[Quality of team, gaps, hiring plans]

### Board Composition
[Current board, proposed board seat]

---

## 5. TRACTION & METRICS

### Key Performance Indicators
| Metric | Current | 12M Ago | Growth |
|--------|---------|---------|--------|
| ARR/Revenue | $[X]M | $[X]M | [X]% |
| Customers | [X] | [X] | [X]% |
| [Key Metric] | [X] | [X] | [X]% |

### Unit Economics
| Metric | Value | Benchmark |
|--------|-------|-----------|
| CAC | $[X] | |
| LTV | $[X] | |
| LTV/CAC | [X]x | >3x good |
| Payback | [X] months | |
| Gross Margin | [X]% | |

---

## 6. FINANCIALS

### Historical Performance
| ($M) | Year -2 | Year -1 | Current | Y+1 Proj |
|------|---------|---------|---------|----------|
| Revenue | | | | |
| Gross Profit | | | | |
| EBITDA | | | | |
| Net Income | | | | |
| Cash | | | | |
| Burn Rate | | | | |

### Cash Position & Runway
- Current cash: $[X]M
- Monthly burn: $[X]M
- Runway: [X] months

---

## 7. INVESTMENT TERMS

### Deal Structure
| Term | Details |
|------|---------|
| Security | [Preferred / Common / Convertible] |
| Valuation | $[X]M pre / $[X]M post |
| Round Size | $[X]M |
| Our Investment | $[X]M |
| Ownership | [X]% |
| Board Seat | [Yes/No] |

### Key Terms
- Liquidation Preference: [X]x [participating/non-participating]
- Anti-dilution: [Broad-based weighted average]
- Pro-rata Rights: [Yes/No]
- [Other key terms]

### Cap Table (Pro-forma)
| Shareholder | Pre-round % | Post-round % |
|-------------|-------------|--------------|
| Founders | | |
| Existing Investors | | |
| Option Pool | | |
| This Round | | |

### Use of Funds
| Category | Amount | % |
|----------|--------|---|
| [Use 1] | $[X]M | |
| [Use 2] | $[X]M | |
| [Use 3] | $[X]M | |

---

## 8. RETURNS ANALYSIS

### Investment Scenarios
| Scenario | Exit Value | Multiple | IRR | Probability |
|----------|-----------|----------|-----|-------------|
| Base | $[X]M | [X]x | [X]% | [X]% |
| Bull | $[X]M | [X]x | [X]% | [X]% |
| Bear | $[X]M | [X]x | [X]% | [X]% |

### Exit Considerations
- Potential acquirers: [List]
- IPO potential: [Assessment]
- Timeline: [X-Y years]

---

## 9. RISK ANALYSIS

### Key Risks and Mitigants
| Risk | Likelihood | Impact | Mitigant |
|------|------------|--------|----------|
| [Risk 1] | H/M/L | H/M/L | |
| [Risk 2] | H/M/L | H/M/L | |
| [Risk 3] | H/M/L | H/M/L | |

### Deal-Specific Risks
- [Risk specific to this transaction]

---

## 10. RECOMMENDATION

### Investment Decision
**[INVEST / PASS / CONDITIONAL]**

### Rationale
[3-4 sentences summarizing why this is or isn't a good investment]

### Proposed Terms
- Investment amount: $[X]M
- Target ownership: [X]%
- Board seat: [Yes/No]
- Key conditions: [If any]

### Post-Investment Value Add
1. [How we can help the company]
2. [Strategic introductions]
3. [Operational support]

### Next Steps
1. [Action item 1]
2. [Action item 2]
3. [Action item 3]

---

## APPENDICES

### A. Detailed Financial Model
### B. Customer References
### C. Technical Due Diligence
### D. Legal/IP Review
### E. Background Checks

---

*Prepared by [Fund Name] Investment Team*
*This memorandum is confidential and for internal use only*

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提升结果的小技巧

1. 提供所有可用数据，以便进行更全面的分析
2. 说明你所在基金的标准（阶段、投资额、行业）
3. 列出希望分析的任何顾虑
4. 提及可供对标的类似交易
5. 如果时间安排很重要，请说明紧迫程度

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局限性

• 无法开展一手尽职调查
• 分析仅基于你提供的信息
• 不能取代 IC 讨论和判断
• 可能无法反映最新市场数据
• 不构成投资建议

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