Free private markets document template
Investment Committee Memo Template
Create an institutional LP private equity or venture capital investment committee memo with fund-underwriting inputs and Word or PDF export.
01
Executive summary
We recommend a $25m commitment to Series A/B Venture Fund, a $750m vehicle focused on Series A/B venture. The fund targets 3.0x / 25% net IRR and offers meaningful GP alignment through a 2% GP commitment.
02
Investment thesis
The proposed commitment adds exposure to Series A/B venture in North America, focused on enterprise software, fintech and deep tech. The investment case depends on the manager’s track record, execution capabilities and fit with the LP portfolio.
03
Manager overview
A partnership of experienced operators and investors with complementary sourcing, company-building and portfolio-support capabilities.
04
Strategy
The fund invests in Series A/B venture across North America, with emphasis on enterprise software, fintech and deep tech.
05
Track record
Funds I-IV; 68 companies, 22 realizations, 18% net IRR and 2.2x net TVPI.
06
Portfolio construction
A diversified portfolio across sectors and business models, with concentration limits at company and sector level. The strategy expects to build a portfolio of 18-22 companies, with $20-35m initial investments and reserves for follow-on participation.
07
Terms
The proposed economics are a 2% management fee and 20% carried interest. The GP is committing 2% alongside LPs. Two named founders; key-person suspension and replacement rights.
08
Risks
Key risks include valuation, concentration, macroeconomic conditions and execution at the portfolio-company level. These risks should be monitored through pacing discipline, diversification, reference work and the negotiated governance package.
09
Portfolio fit
Increases exposure to high-conviction Series A/B venture while maintaining the portfolio's preferred manager diversification.
10
Recommendation
Subject to satisfactory diligence and final documentation, consider a commitment of $25m to Series A/B Venture Fund. Target returns are underwriting assumptions, not an assurance of outcome.