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An approach to capital allocation aimed at transforming whole systems rather than optimising individual deals — the rigorous successor to impact investing (cf. systemic investing / system-level investing / catalytic capital). Strong on intent and orchestration, but historically thin on the capital instrument itself: most systemic capital remains short-horizon, one-shot, or liability-bearing, and so reproduces the fragility it targets.
A systemic-investing fund may orchestrate blended capital across a sector yet still deploy one-shot grants or extractive debt — leaving the system's capital cycle broken. Perennial Social Capital supplies the missing primitive: non-liability capital that recycles at rate R, matching mission timing instead of repayment timing.
PSC · Capital architecture