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What is an IC Memo?

An Investment Committee (IC) memo is the formal written document that a deal team presents to the firm’s investment committee to recommend (or decline) an investment. The IC is a small group of senior partners who make the final go/no-go decision on every deal. The memo synthesizes weeks or months of due diligence, financial analysis, and deal negotiation into a structured argument. A strong IC memo is balanced, factual, and honest about risks. IC members are experienced investors who will find the weaknesses regardless — presenting both bull and bear cases builds credibility and leads to better decisions. Most PE firms have a standardized memo format to ensure consistency across deals.

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Command

Loads the ic-memo skill and drafts a structured IC memo from due diligence findings, financial analysis, and deal terms.

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IC Memo Structure

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Output Format

  • Default: Word document (.docx) with professional formatting
  • Alternative: Markdown for quick review
  • Financial tables for all key exhibits (not just prose)
IC memos must be balanced — present both bull and bear cases honestly. IC members will find the risks anyway; credibility matters more than selling the deal.

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How to Customize

Edit the ic-memo skill to match your firm’s standard IC memo template, add required sections, or adjust the recommendation format. See the IC Memo skill for the complete memo framework and guidance on gathering inputs.