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Capital systems designed to operate over one dominant temporal horizon—the repayment period, grant term, investment exit, or fundraising window. Once that cycle completes, capital is withdrawn, extracted, or extinguished. Cannot support multi-cycle missions.
A traditional grant is single-cycle: $100K deploys, creates impact, terminates. The next cycle requires new fundraising. Compare to PSC where the same $100K cycles indefinitely.
RCS Section 2.4