memo culture

Definition

The internal practice at VC firms of writing detailed investment memos that analyze potential deals. Where partners commit their hottest takes to writing so they can be mocked later when wrong.

Example Usage

Their strong memo culture meant every partner had to write a 10-page analysis before Monday meetings, which slowed their decision-making considerably.

Origin

Adapted from consulting and tech company practices, popularized by firms like Bessemer

Fun Fact

Bessemer Venture Partners maintains an 'Anti-Portfolio' page showcasing famous investments they passed on, complete with their original memo excerpts.

Source: Venture capital operational practices

Related Terms

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🚀 Startup / VC

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