As a solo angel investor evaluating 50+ startups per year, I needed a system. Memorizing deal terms, comparing across verticals, tracking follow-ups — it became chaos.
So I built a Google Sheets Investment Memo Template that forces discipline:
What the sheet contains
- Executive Summary — key terms, ask amount, valuation cap, stage
- Problem/Solution Fit — score how urgent the problem is and how defensible the solution
- Market Sizing — TAM/SAM/SOM with revenue multiple implied valuation (formula included)
- Unit Economics — CAC, LTV:LTV ratio, payback period, gross margin, churn analysis
- Deal Scoring Dashboard — weighted scoring (team 25%, market 20%, product 15%, traction 15%, economics 10%, moat 10%, terms 5%)
The magic is in the LTV:CAC formula: = (ARPU * Lifetime Months * Gross Margin) / CAC
If LTV:CAC < 3, I flag it red. Payback > 18 months? Red. Churn > 7% monthly? Red.
Example deal evaluation
Last month I evaluated a SaaS tool for freelancers:
- CAC: $450 (direct sales)
- ARPU: $39/mo
- Churn: 4.5% monthly
- LTV: $39*(1/0.045)*0.78 = $676
- LTV:CAC: 1.5 — too low, flagged red
- Decision: Passed
Without the template, I might have been swayed by the founder's charisma. With the template, the numbers spoke clearly.
Grab the template here if you want to apply the same rigor: https://microtoolsb2b.gumroad.com/l/I7pSlt1U_3Mc-loJzFw2PA
Tags: angel investing, google sheets template, startup evaluation, pre-seed investing, financial model
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