ic-memo-draftinglisted

# IC Memo Drafting ## When to use Use this skill after diligence is substantially complete and the deal team has formed a clear view on the opportunity. The IC memo is the written argument for (or against) the investment decision -- it must be complete, balanced, and defensible under cross-examination from senior investment professionals, LPs, and in some cases, internal risk committees. Use it to draft the memo, stress-test the argument, and ensure no material finding from diligence is omitted. ## What it does Produces a structured IC memo draft covering all standard sections: executive summary, business description, deal overview, market and competitive position, management assessment, diligence findings, financial analysis, returns, risk matrix, and recommendation. The draft is written in institutional investment prose -- direct, evidence-based, no marketing language. ## Method ### Step 1 -- Executive summary (write last, present first) The executive summary is one page maximum. It states: - The company (one sentence: name, sector, business model, LTM EBITDA) - The deal (structure, entry multiple, implied EV, equity cheque size) - The investment thesis in 3 bullet points (the three strongest reasons to invest) - The primary risk in 1 bullet point (the risk that could most directly impair the return, and the mitigant) - The recommendation (invest / pass / conditional approval) - Target return (base-case MOIC and IRR over the stated hold period) The executive summary