How It Works

Two products that compose. The IC memo pipeline produces the diligence on the deals you want to act on. The Decision Memory captures how you decided, at the moment you decided.

IC Memo Pipeline

Submit a target company. Receive six deliverables — investment memo (~15–25 pages), live financial model (.xlsx with LBO Returns, Monte Carlo, Sensitivity tables), executive summary, management Q&A, pitch deck, and structured one-pager — with every claim source-traceable and every deliverable consistent against the same canonical FinancialScenario object.

1
Submit a target company
From any company profile or your dashboard, submit an IC memo request. You receive a request ID and estimated turnaround — typically a few hours, longer for companies requiring deep EDGAR work.
2
Kill-gate evaluation
Before any work begins, the pipeline runs a deterministic kill-gate check. If the deal does not fit the investment style — for example, an LBO request on a $300B bank — the request is rejected with the reasoning logged. This protects your time and ours.
3
Pipeline runs in real time
A live status page shows the memo moving through stages: RESEARCH → MODEL → COMPOSE → VALIDATE → DELIVER. The audit trail is visible — you are not looking at a spinner, you are watching the work.
4
Cross-deliverable validation
Before delivery, every deliverable is checked for internal consistency. The IRR, MOIC, and entry multiple in the memo must match the xlsx model. The exec summary must be consistent with the main memo. Mismatches are caught and corrected automatically.
5
Rubric grade + delivery
An adversarial critic grades the memo against a public rubric. The grade and grader rationale ship with the deliverables. Memos that fail the rubric are re-run or escalated — you never receive an ungraded output.
6
Comment surface and revisions
Every delivered memo has a comment surface. Highlight a passage, ask a question, request a revision. Cole responds with revised analysis or additional sourcing. Comments become a thread that is part of your permanent record.
Six deliverables, one request
Investment Memo (.docx, ~15–25 pages)
Live Financial Model (.xlsx — formulas intact)
Executive Summary (.docx, ~2 pages)
Management Q&A (.docx)
Pitch Deck (.pptx)
Structured One-pager
See a redacted demo memo

Decision Memory

Your firm's private record of how each decision was actually made: thesis, assumptions, categorized risk flags, internal dissent, approval conditions and decline rationale — captured at the moment of decision, before the outcome exists to contaminate it. Structured capture is a by-product of the IC workflow, not a second job.

Captured at decision time — thesis, assumptions, categorized risk flags, internal dissent, approval conditions and decline rationale.
Decision fields lock once the decision is recorded. A record reconstructed after the outcome is known is contaminated by hindsight and worthless as evidence.
Structured as a by-product of the IC workflow you already run. Capture is not a second job — that is the single most important design decision in the system.
Post-decision monitoring is wired back to the original thesis, so drift becomes visible rather than remembered.
Decline reasons use a fixed vocabulary, not free text — declines are the counterfactual layer no vendor records today.
Read the methodology

Indication of Interest (IOI) Flow

When you find a company worth acting on, submit an Indication of Interest directly from its profile page. The IOI is non-binding until a definitive agreement is signed. TrancheBook is a financial publisher; the transaction routing is handled by our registered broker-dealer partner, Rainmaker Securities.

1
Submit the IOI
From any company profile, click "Submit IOI." Enter indicated investment size, preferred deal type, urgency, and any notes. Toggle whether to attach any IC memo you have had produced on the company.
2
Platform screens and validates
TrancheBook validates accreditation and packages the diligence. The Chinese Wall is enforced: the research engine has no knowledge of IOI economics — they run on separate code paths.
3
Rainmaker Securities routes the IOI
TrancheBook is a financial publisher, not a broker-dealer. IOIs are forwarded to Rainmaker Securities (FINRA registered), our broker partner, on a flat-fee basis. Subsequent communications come from Rainmaker, not from TrancheBook.
4
Status tracking
Your IOI status moves through: submitted → acknowledged → counterparty engaged → closed. The platform monitors for broker response and escalates if the agreed SLA is missed.

Turnaround & Expectations

IC Memo Pipeline

  • • Typical turnaround: a few hours
  • • Longer for deep EDGAR work or complex cap tables
  • • Live status page throughout
  • • Email + in-platform notification on delivery

Decision capture

  • • Captured at decision time, never reconstructed
  • • Decision fields lock once the decision is recorded
  • • Post-decision monitoring wired to the original thesis
  • • Categorized decline reasons, not free text

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