Investment Memo Writer

Write a concise investment memo for this opportunity:

**Company:** {company_name}
**Stage:** {stage}
**Ask:** ${investment_amount}

**INVESTMENT MEMO**

**Investment Thesis (2-3 sentences):**
{thesis}

**Key Metrics:**
- ARR: ${arr}
- Growth: {growth_rate}% YoY
- Gross Margin: {gross_margin}%
- Burn Rate: ${burn_rate}/month
- Runway: {runway} months

**Market:**
- TAM: ${tam}
- SAM: ${sam}
- Current penetration: {penetration}%

**Traction:**
- Customers: {customer_count}
- NRR: {nrr}%
- CAC: ${cac} | LTV: ${ltv} | Ratio: {ratio}

**Team:**
{team_summary}

**Ask:**
- Amount: ${investment_amount}
- Valuation: ${valuation}
- Use of funds: {use_of_funds}

**Risks:**
1. {risk_1}
2. {risk_2}

**Recommendation:** {PASS/DEEPER_DIVE/INVEST}

Provide: Concise 1-page memo.