What we do
We co-design and co-operationalise new capital systems, the next generation of financial instruments and institutions.
The Capital Systems Lab is building a portfolio of positions for financing next-generation value.
We believe that a portfolio approach is needed to address the complexities of changing finance.
We believe that with the turbulence the world is headed into right now there is a whole new class of value emerging that we don’t yet know how to price and finance.
We believe that financing next generation value requires systemic approaches to capital structuring – Capital Systems.
While options describe a landscape of possibility, positions are a commitment to a process of material and epistemic investment, shaping the world rather than just responding to it.
Where do we anchor it?
We build new financial instruments and institutions for transitions at the scale of assets, neighbourhoods, cities, bioregions, and at the planetary scale.
We are building (towards) a set of strategic positions.
We know that complex change is non-linear and highly emergent. Hence, we don’t believe we can create a specific version of the many futures that are currently possible. However, we can increase the likelihood of certain shapes of the future by building towards strategic positions. These positions carry many… [this section is still WIP]

Bioregional Banks
Bioregional Financing Facilities

City Transition Finance Facilities

Regenerative Investment Funds
Fogo Regenerative Fund
Working on the Dark Matter all across
Our work on financial systems is not isolated, obviously. We work closely with our colleagues and partners across Dm and beyond to address the deep codes of money holistically. Specifically, we are collaborating with these parts of the wider Dm ecosystem:
Next Economics Lab
(Economic Innovation)
Beyond The Rules Lab
(Legal Innovation)
Property & Beyond Lab
(Ownership Innovation)
Bioregional Arc
(Bioregional grounding)
NetZero Cities Arc
(City grounding)
e.g. Radicle Civics Arc
(Asset grounding)
Relevant Publications
The faces behind our work






