Deal docs in. Defensible memos out.
First draft in minutes, not weeks - and it lands already underwritten: the sponsor's model rebuilt formula by formula, run through 44 checks, not just read for its numbers.
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See how the audit works ↓The three questions every memo has to survive. Here's how Memosa answers them.
The difference
we build on the same model - this column is the model without the machinery.
Says who? - the model audit
Most AI memo tools embed your Excel as text and call it done. Memosa rebuilds the sponsor's model as a live dependency graph - 21 sheets and 119,622 formula nodes is a standard workbook here, not a stress test - reconstructs the DCF independently, and runs 44 deterministic checks against it before writing a word: circular references, hardcoded overrides, missing reserves, monthly-vs-annual unit mismatches, and every conflict between tabs.
Every cell, every formula, every reference - resolved into a graph your team can actually read. NOI’s parents, IRR’s drivers, exit cap’s downstream blast radius.
Each workbook earns a tier - full, formulas-only, partial-high-risk, or values-only. The Compliance Gate blocks export below grade B, with every blocker listed by name.
For every top-line metric, Memosa names the assumptions that move it most. Not heuristic - derived from the live formula graph, with influence scores ranked by the graph itself.
Circular references, hardcoded overrides, missing reserves, monthly-vs-annual mismatches, optimistic divergence from the parsed pro forma - flagged automatically, with cell-level provenance.
Says who? - the receipts
Every claim links back to its exact source page with a pinned citation, and every headline metric carries a Number Passport - which source won, which workbook cells produced it, which checks it flagged. When sources disagree, a fixed precedence rule decides the winner - your input, then the Excel, then CoStar, then the PDF - and the footnote shows both numbers. Stale sources get freshness warnings tuned by source type, and every section's citation coverage is graded A–F.
Inside every footnote
When two sources disagree on a number, the footnote flags the conflict and shows both - no silent reconciliation.
If the underlying workbook has hardcoded overrides, missing reserves, or circular references, the citation says so before your IC asks.
Top financial metrics carry a footnote tracing the formula chain back to its inputs - see what feeds NOI, cap rate, IRR.
Sources past their staleness window get an automatic age flag - 90 days for market comps, up to a year for appraisals - so your committee knows when to re-verify.
source precedence: USER > EXCEL > COSTAR > PDF - locked by a 158-scenario regression, 100% match
What if? - the skeptic's section
Every modeled deal ships with “What the Skeptic Found” - the strongest defensible downside case, adjudicated by a zero-LLM referee that recomputes each claim against the deal's own formula graph. Only claims that survive the arithmetic ship: a finding surfaces when it drives return variance or breaches a covenant. Your committee gets the devil's advocate - with a calculator wired into the workbook.
What if? - live propagation
The purchase price gets re-cut the night before IC. Memosa propagates one change through every affected section - the lightest correct fix per section, a preview you approve, amber-flash markers on everything touched, one-click undo - because it holds the model's real dependency graph, not a memory of its numbers. And you can ask the model directly: breakpoints, stress cases, scenarios, and Monte Carlo outcome ranges (P5/P50/P95), all recomputed from the sponsor's own formulas.
Preview every change. Approve, undo, or override. Amber-flash markers show every section the engine touched. Full audit trail.
one change · every affected section · full undo
Who approved this?
Per-section approval snapshots, an immutable provenance chain, and an exportable audit log mean your IC files what the committee actually said yes to - not what someone edited after. Role-based access governs who can edit, comment, and approve; approval is the gate that unlocks export, and the Compliance Gate blocks Investor Packet export below grade B - with every blocker listed by name. Every deal lives in its own isolated namespace, cross-deal benchmarks are suppressed below three contributing deals, and your data never trains AI models. Compliance officers get receipts; analysts don't get slowed down.
This is the machinery. See it on your own deal.
Get Early AccessThe question every CIO asks
Claude reads your documents. Memosa audits your deal.
And honestly - for a screening read, use Claude. You'll get a fluent summary, sponsor color, fast answers about the PSA. We built Memosa on Claude for exactly those strengths. But a memo that goes to committee has to be defended - and defense takes machinery no model carries on its own:
None of these are model failures. They're product absences. Claude writes. Memosa makes it defensible in IC.
How it works
Sponsor PDFs, Excel models, and third-party reports go in. Memosa audits the model, resolves source conflicts, and assembles a fully cited draft in minutes, not weeks - the verification runs in the pipeline, not on your analysts' evenings.
Step 01
Step 02
Simultaneous analysis streams - financial, risk, market, comparables, model integrity, exit - every page, every embedded table and chart, cross-referenced, validated against 44 deterministic checks, precedence-resolved, and sourced
Step 03
Retrieval intelligence
One giant prompt gives every page a fraction of the model's attention - the finding on page 640 dies in the dead zone. Memosa runs a fresh, staged retrieval for every memo section: multimodal embeddings, cross-encoder reranking, and source-type recovery that notices when a financial section is missing its Excel evidence and goes back for it.
Charts, diagrams, and tables embed as images, not just OCR. Visual questions route to a dedicated multimodal index that sees what your PDFs show.
Voyage's cross-encoder reranks every candidate by relevance, then diversity guards keep the source mix balanced. Your IC sees the most relevant chunk, not the most-similar one.
Every PDF page scored on substance density. Page 3 of a CoStar report beats the cover. Branding pages and table-of-contents noise get filtered out.
Complex questions auto-fan out into sub-queries. "How does this deal compare to the sponsor's last three Class B value-adds?" becomes four parallel retrievals, then merges.
Drop in any sponsor model. Memosa parses 13 tab families - rent rolls, pro formas, waterfalls, debt schedules, construction draws, CapEx, OpEx, assumptions, sensitivity, sources/uses, property facts, returns, and tax - auto-detects monthly vs. annual debt schedules, reconstructs the DCF independently, and grades model integrity 0–100. Hardcoded overrides, missing reserves, circular references, and optimistic divergence are flagged before they reach your committee. The Compliance Gate blocks Investor Packet export when the document falls below grade B - with every blocker listed by name. LLM-assisted parsing handles non-standard column headers that defeat conventional parsers.
Every section gets a readiness grade across six weighted dimensions - content quality, completeness, approval status, freshness, model integrity, and decision coverage. Twenty-eight learning modules surface exactly what needs attention before IC review, with remediation hints that link directly to the right brush or action.
Memosa builds a live entity graph across your deal history - sponsors, submarkets, asset classes, deal types - so every comparable is resolved by traversing the graph, not picked from a search bar. Track sponsor performance across deal history. Surface submarket risk patterns and benchmark cap rates, IRR, and DSCR with cohort percentile benchmarks. Every cross-deal claim carries provenance back to the underlying deal, and a privacy floor (N ≥ 3) ensures no individual deal terms surface in benchmarks.
Google Docs-level real-time editing - built on operational transforms with ProseMirror and Redis, not polling. Collaborative cursors, inline comments, section approvals, and full version history. Four role levels across organizations and teams, with pending invites and a pipeline board tracking every deal from intake to IC decision.
Sixteen canonical sections - from executive summary and key metrics through investment rationale, property and financial analysis, capital stack, risk factors, market and rental comparables, sponsor background, and exit strategy - all pre-populated and sourced to your docs. Add supplementary sections and customize the structure to match your committee's exact format.
Memosa auto-detects deal type - equity, debt, or fund - and generates polished slide decks with 18 chart types plus 4 auto-emitted heuristics: capital stacks, waterfalls, sensitivity heatmaps, tornado diagrams, NOI trajectories, combo charts - plus 3D sensitivity slices, rent-cohort matrices, capex-variance, and line-item-volatility views that surface automatically when your data shape calls for them. Every chart sourced to your data.
Six deep brushes - audit, enrich, quantify, compliance, compare, and deal structure - each running multi-step research with iterative self-critique. Three quick brushes (improve, source-it, market context) handle fast in-line edits. Deep brushes plan, search, evaluate, and refine until the output meets CRE standards. Web research pulls live market data via Perplexity and Claude Web Search to ground every finding.
Ask any question about your deal docs - and get answers pinned to the page they came from. Or start a new deal by chatting: upload documents, and Memosa’s intake chat names the deal, guides you through missing info, and generates your first draft. Three response tiers - instant answers, retrieval-augmented lookups, and deep agentic research - for the right depth on every question.
Asset-class native
Specialized templates for multifamily, student housing, hospitality, industrial, and office - with first-class support for retail, mixed-use, self-storage, life sciences, medical office, senior housing, and land.
Institutional memory
Analyst edits, ratings, and approvals become structured learning. Approaches that measurably worked are promoted into your team's playbook - and demoted after two poor outcomes. A content filter hard-rejects dollar amounts, addresses, and entity names: the approach transfers, the deal data never does. Sponsors are recognized across your deal history, and team-level analytics show time-to-approval and readiness trends - patterns, never surveillance.
IC will ask where the numbers came from. Now that's the easy part - every number carries its receipt, and the memo carries your team's approval. Built by the team at EquityMultiple, for investment teams who put their names on the numbers - and still make the closing dinner.
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