When I started at Longevity, my first task was to write an investment memo. I didn’t necessarily want to admit that I had no idea what an investment memo was, and especially no clue on how one writes such a thing. So I ran to the internet, found Sequoia’s YouTube IM, and promptly delivered a 3-page, super-vague IM the next day. Yikes.
I hope this outline is a helpful jumping off point for anyone who finds themselves in a similar predicament! For context, we invest in seed to Series A in companies developing therapeutics for the diseases of age, so our decision to invest or not circles around the science and team — an IM for a Series B or C biotech would look very different from the below.