Definition
An internal document where VCs justify their investment thesis to partners, typically written with supreme confidence that will be mocked at the next downturn. The receipts for future 'I told you so' moments.
Example Usage
The investment memo claimed we'd achieve profitability in 18 months, which is now a running joke at their Monday meetings.
Origin
Standard investment committee documentation formalized in the mid-20th century
Fun Fact
Famous investment memos passing on Google, Facebook, and Airbnb are now used in business schools as cautionary tales about conventional thinking.
Source: Venture capital investment process terminology
Related Terms
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