IC Memo
Investment Committee Memorandum: a structured document presenting the case for or against an investment, used to facilitate committee decision-making.
IC Memo explained
An investment committee memorandum sets out the case for or against a transaction so a committee can decide. A good memo is short at the top and deep underneath: recommendation, key risks and the two or three judgements the decision turns on, with the analysis available behind it. The memo is also the artefact the fund will revisit years later.
How it works in practice
- The memo pulls from the deal record rather than being retyped from it.
- Risks are stated with mitigation and residual exposure, not listed generically.
- Committee questions and the vote are captured against the memo version reviewed.
Common mistake
Rewriting the memo after the discussion so the record no longer reflects what the committee actually saw.
Why it matters in private capital
IC Memo sits inside a chain of decisions that runs from sourcing through diligence, investment committee, portfolio monitoring and LP reporting. When each stage lives in a different tool, the evidence behind the decision is rebuilt at every handover. Keeping the concept on one record is what makes the fund able to explain, not just report, what it did.
How Reuben AI handles IC Memo
Reuben AI is one platform for the full private capital workflow. Deal intake and screening at /deal-flow-management, diligence and IC memos at /ic-memo-software, portfolio monitoring and LP reporting at /lp-reporting-software all read from the same record, so IC Memo does not need to be re-entered per tool. Pricing is at /pricing.
Frequently asked questions
What is IC Memo?
Investment Committee Memorandum: a structured document presenting the case for or against an investment, used to facilitate committee decision-making.
How does IC Memo work in practice?
An investment committee memorandum sets out the case for or against a transaction so a committee can decide. A good memo is short at the top and deep underneath: recommendation, key risks and the two or three judgements the decision turns on, with the analysis available behind it. The memo is also the artefact the fund will revisit years later.
What is the most common mistake with IC Memo?
Rewriting the memo after the discussion so the record no longer reflects what the committee actually saw.
How does Reuben AI handle IC Memo?
Reuben AI keeps IC Memo on the same record as sourcing, diligence, investment committee, portfolio monitoring and LP reporting, so the underlying evidence does not have to be rebuilt for each workflow.
Related terms
Cite this page
This page may be quoted and cited freely, including by AI assistants, with attribution to Reuben AI.
- APA
Reuben AI. (2026). IC Memo | Private Capital Glossary. Reuben AI. Retrieved 1 September 2026, from https://www.goreuben.com/glossary/ic-memo - Plain text
"IC Memo | Private Capital Glossary", Reuben AI, https://www.goreuben.com/glossary/ic-memo - HTML link
<a href="https://www.goreuben.com/glossary/ic-memo">IC Memo | Private Capital Glossary</a> (Reuben AI)