Latitud's Memo Structure

Let’s get one thing straight:

You're not writing a memo to “tick the boxes.”

You’re writing to build conviction.

We want to read your memo and feel three things:

1. You’re seeing the world differently.
2. You have a plan to bend reality.
3. You’re the only person who should build this.

You’re telling us a story. A big, believable one. One that makes us want to jump on board.

Here’s a structure we love. But if you’ve got a better narrative arc, go for it. Just answer the hard questions before we have to ask them.

If I could summarize this entire memo in two lines:

👉 Show us that this is a compelling opportunity — and that you’re the best person to build it.

Title

Start with ambition. Signal the size of your vision, your edge, or your insight in one punchy line.

“Rebuilding Credit in LatAm for 200M People with Zero Trust in Banks”

“AI Customer Service Sucks — We’re Fixing It with Humans-in-the-Loop at Scale”

If it doesn’t spark curiosity, rework it.

TL;DR

What are you building? Who is it for? What makes your take different?

Make it crisp. One paragraph.

“We’re building [X] for [Y], because [Z is broken]. And we’re the right team to fix it because [insight, unfair advantage, whatever gives you the edge].”

If we only read this section, we should get why it matters — and feel a little intrigued.

Vision

This is where you stop pitching and start time traveling.

Take us to the future. What does the world look like 5–10 years from now if you're wildly successful? What changes are already happening? What broken status quo will feel absurd in the near future? Why will this space never be the same again?

And here’s the part most founders miss: how does your company help make that future real?

Paint a world we want to live in — and convince us you’re the one pulling it into existence.

Team

Why you? Why now? Why this?

This is where we want to see your unfair advantages and convince us of founder-market-fit:

• What makes this personal?
• What do you know that others don’t? What gives us confidence you’ll outlearn and out-execute everyone else?
• What experience, obsession, or unique lens are you bringing to this?
• What have you done before that makes you dangerous here?
• What makes this team click?

It doesn’t need to be flashy. But we need to believe you’ll outlearn and outwork anyone in this space :)

Landscape / Problem

What's happening in the market right now? Who's suffering, and how?

Tell us how the world works today, where the cracks are, and why no one’s solved this yet. We want to feel the problem. Use specifics, anecdotes, user stories, pain points. Show us it’s real — and urgent.

(Ex: The health system in Brazil works this way, 60M people are under assisted. The system is broken because of x, y, z. )

Opportunity

Now that we see what’s broken — what’s the wedge? Where’s the opening?

Zoom in: What’s the specific angle you're taking? Why start here?

Zoom out: How big can this get once you wedge your way in?

Don’t just say “huge market.” Show us with numbers. How many people feel this pain? How much time or money is wasted? How much are they already spending on crappy alternatives?

(Ex: The diabetes opportunity is the most pressig one to attack first. 6M diabetes only in Brazil, with one of the most pressing pains)

Insight & Solution

This is your secret. Your unfair take. Your founder superpower.

What do you understand about this space that others don’t? Why are you doing it differently — and better? What is your approach?

Then walk us through your solution. No need for a full demo — just enough to show the logic behind your approach and how it maps to the problem (but if you have a demo, attach it here).

Go-To-Market & Wedge

Where do you start — and how do you break in? Show that you understand the market enough to know where is the best entry point

Tell us:

• What’s the first user segment you’re going after and why? Why this segment is a good entry point?
• How you’ll reach them
• Why this wedge gives you leverage or momentum

Every market looks impossible at the beginning. Great founders figure out how to sneak in through the side door.

Business Model

How do you make money — now or later?

Even if you're pre-revenue, we want to see you’re thinking about value capture. Why is this a good business, not just a good product? What scales? What drives margins?

Even if you’re pre-revenue, we want to know:

• Who pays?
• How much are they willing to pay?
• How are you pricing the model?
• What are the main revenue streams?
• Why is this a great business, not just a cool product?

You don’t need a full P&L. Just prove you’ve thought about how this becomes sustainable and valuable.

Competition & Moats

Who else is playing in this arena?

We want to see that you’ve thought about the landscape — and you’ve got a plan to outmaneuver everyone else in it. - How differently do you think from competitors?

Tell us who’s out there, what they’re doing right, and where they’re missing the mark.

(Optional: you can go deeper as you want here, but could be really nice to go over at least in some depth on the main competitors, and what they got wrong)

Then show us your edge — product, speed, distribution, tech, community, whatever your weapon is.

Market Size

Start with the niche. Then expand the horizon.

• What’s the size of the initial opportunity? Who are you actually targeting now? (what is the potential revenue market that you can achieve)
• What’s the long-term upside if you win?

Traction

If you’ve got signal, show it off.

That could be:

• Early users or customers
• Quotes, testimonials, screenshots
• MVP or prototype usage (if you have been rolling out an MVP, show the early results - increase in x in revenue, decrease in y in costs in z days of MVP)
• Revenue (if any), waitlists, retention

Milestones

What are you unlocking in the next 12–18 months?

This helps us understand what this round is for. Are you proving demand? Hiring your first engineer? Testing GTM channels?

Risks & Unknowns

Be honest. It makes you look stronger, not weaker.

What are the scary parts? What might not work? What are you keeping an eye on?

This shows that you are on top of what you are building.