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With a writing history at VICE ASIA, Letterboxd, Whiteboard Journal and other reputable organisations, Bintang leverages their broad range of experiences to resources that educate audiences, build trust, and support business growth.","https:\u002F\u002Fwww.linkedin.com\u002Fin\u002Fbintanglestada\u002F","Writer","bintang-lestada",[1173,1181,1189,1197,1205,1213,1221,1229,1237,1245,1253,1261,1269,1277,1285,1293,1312,1320,1328,1429,1437,1445,1454,1462,1470,1478,1486,1494,1502,1596,1604,1612,1620,1628,1636,1644,1652,1660,1668,1676,1684,1692,1700,1708,1716,1724,1732,1740,1748,1756,1765,1773,1781,1789,1797,1805,1813,1821,1829,1837,1845,1853,1861,1869,1877,1896,2185,2193,2201,2209],{"_key":1174,"_type":143,"children":1175,"markDefs":1180,"style":164},"k3",[1176],{"_key":1177,"_type":147,"marks":1178,"text":1179},"k2",[],"What is an investment memorandum",[],{"_key":1182,"_type":143,"children":1183,"markDefs":1188,"style":164},"k7",[1184],{"_key":1185,"_type":147,"marks":1186,"text":1187},"k6",[],"An investment memorandum is the document that walks investors through your fundraising opportunity in full. It is the long-form version of your pitch deck. Your deck gets people interested in the vision. Your memo is what proves you can actually pull it off, covering your business model, market, financials, risks, and where the money goes.",[],{"_key":1190,"_type":143,"children":1191,"markDefs":1196,"style":164},"k11",[1192],{"_key":1193,"_type":147,"marks":1194,"text":1195},"k10",[],"But remember, don’t misunderstand that there is only one type of investment memorandum. There are many types you may need to use as per the requirement. Here are different types of investment memorandum you can refer to:",[],{"_key":1198,"_type":143,"children":1199,"markDefs":1204,"style":164},"k15",[1200],{"_key":1201,"_type":147,"marks":1202,"text":1203},"k14",[],"a. 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Post-investment memo: a record created after the investment to track performance and key decisions",[],{"_key":1230,"_type":143,"children":1231,"markDefs":1236,"style":164},"k31",[1232],{"_key":1233,"_type":147,"marks":1234,"text":1235},"k30",[],"e. Exit strategy memo: a memo focused on how and when investors can expect a return",[],{"_key":1238,"_type":143,"children":1239,"markDefs":1244,"style":164},"k35",[1240],{"_key":1241,"_type":147,"marks":1242,"text":1243},"k34",[],"f. Co-investment memo: used when multiple investors come together to back the same deal",[],{"_key":1246,"_type":143,"children":1247,"markDefs":1252,"style":164},"k39",[1248],{"_key":1249,"_type":147,"marks":1250,"text":1251},"k38",[],"g. Impact investment memo: built around social or environmental outcomes alongside financial returns",[],{"_key":1254,"_type":143,"children":1255,"markDefs":1260,"style":164},"k43",[1256],{"_key":1257,"_type":147,"marks":1258,"text":1259},"k42",[],"h. Private equity or venture capital memo: tailored to the specific requirements of PE or VC firms",[],{"_key":1262,"_type":143,"children":1263,"markDefs":1268,"style":164},"k47",[1264],{"_key":1265,"_type":147,"marks":1266,"text":1267},"k46",[],"i. Strategic partnership memo: used when an investment is tied to a broader business partnership",[],{"_key":1270,"_type":143,"children":1271,"markDefs":1276,"style":164},"k51",[1272],{"_key":1273,"_type":147,"marks":1274,"text":1275},"k50",[],"Why write an investment memorandum at all",[],{"_key":1278,"_type":143,"children":1279,"markDefs":1284,"style":164},"k55",[1280],{"_key":1281,"_type":147,"marks":1282,"text":1283},"k54",[],"A lot of founders skip this step, assuming that their pitch deck is enough. That's usually a mistake, especially at Series A and beyond. A strong investment memo does several things a deck simply can't. It speeds up investor decision-making by giving them everything they need before the first call, it helps VCs build internal consensus by briefing their partners, and it answers most of the early diligence questions upfront so you're not stuck in endless back-and-forth.",[],{"_key":1286,"_type":143,"children":1287,"markDefs":1292,"style":164},"k59",[1288],{"_key":1289,"_type":147,"marks":1290,"text":1291},"k58",[],"There's also a legal dimension. 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That means it needs a lot of important information in a very small space.",[],{"_key":1463,"_type":143,"children":1464,"markDefs":1469,"style":164},"k97",[1465],{"_key":1466,"_type":147,"marks":1467,"text":1468},"k96",[],"You want it to cover what your company does in plain, simple language, the problem you're solving and why it matters right now, your funding ask and exactly what you plan to do with it, your top 3 traction metrics, and your investment thesis in a way that anyone can follow without needing a finance background. If the executive summary doesn't pull them in, the chances of them reading the rest of the memo are very less.",[],{"_key":1471,"_type":143,"children":1472,"markDefs":1477,"style":1453},"k101",[1473],{"_key":1474,"_type":147,"marks":1475,"text":1476},"k100",[],"The problem and your solution",[],{"_key":1479,"_type":143,"children":1480,"markDefs":1485,"style":164},"k105",[1481],{"_key":1482,"_type":147,"marks":1483,"text":1484},"k104",[],"This is the section where you make the case for why your company needs to exist in the first place. Start by defining the problem as clearly as you can and backing it up with real data, because a vague problem statement won't convince anyone of anything. From there, walk investors through why the solutions that already exist fall short and why the timing is right for what you're building.",[],{"_key":1487,"_type":143,"children":1488,"markDefs":1493,"style":164},"k109",[1489],{"_key":1490,"_type":147,"marks":1491,"text":1492},"k108",[],"Market opportunity",[],{"_key":1495,"_type":143,"children":1496,"markDefs":1501,"style":164},"k113",[1497],{"_key":1498,"_type":147,"marks":1499,"text":1500},"k112",[],"This is where you show investors just how big the opportunity really is. 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Investors see through them immediately, and it undermines your credibility in the sections that follow.",[],{"_key":1605,"_type":143,"children":1606,"markDefs":1611,"style":1453},"k122",[1607],{"_key":1608,"_type":147,"marks":1609,"text":1610},"k121",[],"Business model",[],{"_key":1613,"_type":143,"children":1614,"markDefs":1619,"style":164},"k126",[1615],{"_key":1616,"_type":147,"marks":1617,"text":1618},"k125",[],"This is where you explain how your business actually makes money, and the key here is to be as specific as possible. 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How clearly you explain your market tells them how well you understand it. How honestly you present your risks tells them how self-aware you are. How specifically you break down your use of funds tells them whether you're ready to be accountable to outside capital.",[],{"_key":2202,"_type":143,"children":2203,"markDefs":2208,"style":164},"k276",[2204],{"_key":2205,"_type":147,"marks":2206,"text":2207},"k275",[],"A well-written investment memorandum signals something that a pitch deck rarely can: that you think clearly, communicate honestly, and are genuinely prepared for what comes after the wire hits.",[],{"_key":2210,"_type":143,"children":2211,"markDefs":2238,"style":164},"k291",[2212,2216,2221,2226,2230,2234],{"_key":2213,"_type":147,"marks":2214,"text":2215},"k285",[],"Once you've closed your round, the next challenge is putting that capital to work across markets. 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The deck gets you the meeting, the memo is what actually builds conviction",[],{"_key":1525,"_type":143,"children":2260,"level":1338,"listItem":2251,"markDefs":2264,"style":164},[2261],{"_key":1182,"_type":147,"marks":2262,"text":2263},[],"A good investment memorandum covers your market opportunity, business model, traction, team, statutory financial reporting, and how you'll spend the funds raised",[],{"_key":1190,"_type":143,"children":2266,"level":1338,"listItem":2251,"markDefs":2270,"style":164},[2267],{"_key":1193,"_type":147,"marks":2268,"text":2269},[],"Investors also use it internally to brief partners and investment committees, so writing one yourself speeds up their process",[],{"_key":1201,"_type":143,"children":2272,"level":1338,"listItem":2251,"markDefs":2277,"style":164},[2273],{"_key":2274,"_type":147,"marks":2275,"text":2276},"k13",[],"Keep it to 8 to 12 pages, back every claim with data, and write it the way you'd explain your business to a smart friend",[],{"_key":1385,"_type":143,"children":2279,"level":1338,"listItem":2251,"markDefs":2284,"style":164},[2280],{"_key":2281,"_type":147,"marks":2282,"text":2283},"k16",[],"The same document goes by different names (offering memorandum, investment memo, CIM) depending on the context, but the core content is almost identical",[],{"heading":14,"items":369},[2287,2293],{"_key":1177,"_type":143,"children":2288,"markDefs":2292,"style":164},[2289],{"_key":1333,"_type":147,"marks":2290,"text":2291},[],"Raising capital is one of the hardest things that you will do as a founder, and most of the advice out there focuses on the pitch deck. But businesses often overlook the investment memorandum. Your deck gets you in the room, but a well-written investment memorandum is what gives investors the depth they need to actually say yes, especially when you are not around to answer their questions.",[],{"_key":1516,"_type":143,"children":2294,"markDefs":2298,"style":164},[2295],{"_key":1345,"_type":147,"marks":2296,"text":2297},[],"If you're heading into a Series A or any serious fundraising round, this blog will help you understand what an investment memorandum is, what goes inside one, and how to write it in a way that builds real investor conviction.",[],"2026-07-09T01:07:17.535Z",{"_type":122,"metaDescription":2301,"metaTitle":2302,"socialShareImageUrl":2303},"Learn what an investment memorandum is, what to include, and how to write one that builds investor conviction.","How to write an investment memorandum",{"_type":839,"alternativeText":2243,"height":1126,"url":2304,"width":1128},"https:\u002F\u002Fcdn.aspireapp.com\u002Fwebsites\u002Fblog\u002F8e5378691421fe35c0aa6cfb392106e1\u002Fshared_cover_8e537869.jpeg","how-to-write-an-investment-memorandum",[2307,2313,2319],{"_key":1177,"_type":143,"children":2308,"level":1338,"listItem":1763,"markDefs":2312,"style":164},[2309],{"_key":1333,"_type":147,"marks":2310,"text":2311},[],"https:\u002F\u002Feqvista.com\u002Fstartup-fundraising\u002Finvestment-memo\u002F (May 11, 2026)",[],{"_key":1516,"_type":143,"children":2314,"level":1338,"listItem":1763,"markDefs":2318,"style":164},[2315],{"_key":1345,"_type":147,"marks":2316,"text":2317},[],"https:\u002F\u002Feqvista.com\u002Fstartup-fundraising\u002Finvestment-memo\u002F (24 May 2026)",[],{"_key":1525,"_type":143,"children":2320,"level":1338,"listItem":1763,"markDefs":2324,"style":164},[2321],{"_key":1182,"_type":147,"marks":2322,"text":2323},[],"https:\u002F\u002Fcarta.com\u002Flearn\u002Fprivate-funds\u002Fmanagement\u002Fportfolio-management\u002Finvestment-memo\u002F (2 April 2025)",[],1790850636842]