Investor Update Templates

Management
Written By Trevor Hubbard

WRITTEN BY: UPSIDE PARTNERSHIP


 

We frequently field questions around how to write investor updates and what should be included. We recommend building a template to use each month for maximum efficiency, as well as setting up a repeatable system. Updates shouldn’t be a huge tax. Add recurring calendar blocks to compile information for your updates, as well as for when you send them out so investors know what to expect.

In terms of content, there are a few frameworks we like. We’ve shared the basic outlines below.

Elad Gil’s template below is more of a quick, short-form version. It’s concise and direct- the MVP of updates. The super basic framework is below, but reference Elad’s original post linked above for full details.

  • Asks (1-3 items)

  • Highlights (2-5 items)

  • Lowlights (2-5 items)

  • Milestones

In the same post, Elad includes a second, slightly more robust outline for companies a little farther along.

Brendan Mulligan’s playbook is also a wonderful reference. We like that it is well planned out and includes more information that investors may be interested in. This format looks like:

  • TL;DR Summary

  • Team / Recruiting

  • Product

  • Press

  • Metrics

  • Runway

  • Miscellaneous

Brendan went on to build a tool to put updates together, which you can find here. Read his original post for full context on the playbook.

A third version we like comes from Hampus Jakobsson, an investor and entrepreneur. The bare-bones template looks like:

  • What we do

  • Summary

  • Highlights

  • Lowlights

  • Metrics

  • Product

  • Team

  • Other

  • Help

  • Kudos

In particular, we love that this framework starts out with a “what we do section.” Remind investors what you are building toward. They are, of course, already aware, but driving this home during regular communication helps to solidify your culture and get everyone on the same page. This is a practice we encourage founders to adopt, and it’s something we bake into every deck, presentation, or update we put together at Upside Partnership.

Read more about Hampus’ playbook here. As he states, “everything you write should serve one or two purposes: help you or inform the investors so they trust you and can help you in the future.”

The fourth version we’ll highlight here comes from Leo Polovets of Susa Ventures. His basic framework is:

  • KPIs (and month-over-month changes)

  • Notable Events

  • Thank yous (optional)

  • Asks

See the full write up here for full context and an example letter.

Originally Published:






 
Trevor Hubbard
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