Edition II, in formation.
The programme is in formation.
Eighteen problems that will not move until the right people are in one room. These are ours, still in consultation: questions sharpen, merge or close as the programme is composed around the institutions and cases closest to the work. If one of them sits inside your work, tell us what we have wrong.
The Capital Floor
The live market around the programme: investors, allocators, selected founders, corporate buyers and the wider ecosystem visible to one another. Every confirmed place includes the Floor.
Roundtables
Small, composed groups built around a specific decision or market constraint. Capped at twenty, and allocated separately from access to the Floor.
Workshops
A live structure, company, plant, landscape, asset or project worked against real constraints. Every seat is there to help solve the case.
Edition I set the format in Zürich on 8 May 2026.
See Edition I →Six market clusters.
The Capital Floor is organised around six markets. Funds take a position inside the market their thesis serves, alongside corporate buyers and a small number of companies raising. Everyone else moves between them throughout the day.
Cross-Market Capital
Generalist capital with no single-sector thesis across these markets, including diversified family offices, allocators, multi-sector growth investors and cross-market institutional capital.
Not sure where you fit
Sector-specific capital sits with its market. Project finance, private credit, DFIs and family offices also sit with a market where their mandate is sector-specific. Cross-Market Capital is reserved for genuinely diversified mandates.
Food & Biotechnology
Food, agriculture, ingredients, biotechnology, fermentation and biological production serving food and agricultural markets.
Not sure where you fit
Industrial fermentation producing chemicals or materials sits in Materials & Industry. Agtech serving food supply sits here.
Materials & Industry
Circular materials, chemicals, textiles, manufacturing, industrial technology and production infrastructure.
Not sure where you fit
Low-carbon cement and textile recycling sit here. A retrofit designed to reduce flood or heat exposure sits in Resilience.
Nature & Biodiversity
Biodiversity, land, forests, regenerative systems, ecosystem services and nature markets where ecological value is the underlying asset.
Not sure where you fit
Regenerative agriculture sits here when ecological value is the asset, and in Food & Biotechnology when supply is.
Energy & Decarbonisation
Generation, grids, storage, electrification, industrial decarbonisation, fuels and energy project development.
Not sure where you fit
A grid-scale battery sits here. Flood protection around substations sits in Resilience.
Resilience
Adaptation, insurance and physical-risk reduction across assets, infrastructure, the built environment and communities.
Not sure where you fit
An insurance product for wildfire exposure to transmission lines sits here. A resilient grid investment programme sits in Energy.
The Floor is where you stand. The rooms are where you work.
Eighteen questions run as Roundtables and Workshops across the same six markets. Most people sit in one room, two at most: the work is carried forward between them rather than the same twenty people. Where the rooms in a market build on one another, the path is marked.
The capital exists. The mandate does not.
Owners say what ends a deal, without anyone selling into the room. Credit buyers identify what keeps otherwise familiar exposure outside their mandate. Those two views meet around one live structure, where the stack is worked tranche by tranche. Alongside the sequence, First-of-a-Kind Finance asks who can carry risks for which no conventional mandate yet exists.
Two diagnostics, one structureInside the Committee and The Senior Tranche → The Split Sheet
RoundtableInside the Committee: What Asset Owners Will Not Sign, and Why
Investment committees reject structures for reasons managers rarely hear. This room puts the real objections on the table without anyone selling into it.
Feeds The Split Sheet
RoundtableThe Senior Tranche: Why Traditional Investors Still Hesitate
Senior exposure can carry familiar ratings and still be treated as unfamiliar credit. This room isolates what the extra premium is actually paying for.
Feeds The Split Sheet
WorkshopThe Split Sheet: Pricing One Live Structure, Tranche by Tranche
Cross-market · RoundtableFirst-of-a-Kind Finance: Which Mandate Carries the Risk Nobody Owns?
First commercial facilities often sit between venture, project finance, public finance and corporate balance sheets. This room maps those risks to real mandates across sectors.
The cover is withdrawn. The risk stays.
Underwriters identify the conditions making assets harder to insure. One live asset is then priced with and without adaptation, so underwriters, lenders and owners can see how cover, financing and residual risk move when the asset changes.
The arcUnderwriting the Transition → The Exposure
RoundtableUnderwriting the Transition: What Insurers Will No Longer Cover
A peer room for the conditions that are making assets harder to insure, and the evidence that would change them.
What leaves here is picked up in The Exposure
WorkshopThe Exposure: What Does One Asset Cost With and Without Adaptation?
Cross-market · RoundtablePermanence: Who Underwrites Permanence Once Compliance Starts Buying?
As durable removal moves closer to regulated demand, the unresolved question is who carries long-duration permanence liability, what evidence makes it insurable, and how that risk moves between buyer, project and market infrastructure.
The plant is designed. The buyer has not signed.
Nothing gets financed until they do. The arc starts with what a corporate can actually put its name to, maps the instrument that funds the gap, then builds against one company’s real numbers.
The arcThe Buyer → The Scale Gap → The Instrument
RoundtableThe Buyer: What Can a Corporate Actually Sign?
A buyer signature can make capacity financeable, but procurement often cannot sign what founders and investors assume it can. This room makes the real limits explicit.
What leaves here is picked up in The Scale Gap
RoundtableThe Scale Gap: Which Instrument Funds Scale Before Offtake Is Bankable?
Proof of concept can be funded. Mature industrial supply can be financed. The gap between them often has no natural owner.
What leaves here is picked up in The Instrument
Blue-chip offtake signed, and still no plant.
One material stream traced from buyer requirement to lender condition, whether pooled demand can unlock capacity, then who pays for the work that happens before a transaction exists.
The arcPilot to Plant → Demand Certainty → The Pre-Transaction Gap
RoundtablePilot to Plant: Where Does the Sequence Break?
RoundtableDemand Certainty: Can Buyers Commit Enough Volume to Unlock a Plant?
For one material or product category, the question is whether several real buyers can align enough volume, specification and term to make new capacity financeable.
What leaves here is picked up in The Pre-Transaction Gap
Between the pledge and the project sits a gap nobody is paid to close.
Who builds the layer between projects and capital, who can carry first loss as public money tightens, then whether one landscape clears an institutional threshold.
The arcThe Aggregation Layer → The Catalytic Layer → The Stack
RoundtableThe Aggregation Layer: Who Builds the Layer Between Projects and Capital?
Nature projects arrive one by one, forcing buyers and investors to diligence each from scratch. This room works the collection layer required for institutional scale.
What leaves here is picked up in The Catalytic Layer
RoundtableThe Catalytic Layer: Who Can Carry First Loss as Public Capital Tightens?
Public development finance remains essential, but tighter pools make the catalytic layer harder to assemble. This room asks what private foundations, family offices, guarantees and public capital can each genuinely carry.
What leaves here is picked up in The Stack
Europe has the technology and the capital, and still stalls.
The first room identifies which energy dependencies are important enough to justify paying for greater control. The second takes one project inside that strategic need and works the package required before institutional capital can take it to committee.
The arcEnergy Security → The Investment Package
RoundtableEnergy Security: Which Dependencies Are Worth Paying to Control?
Europe pays a premium for some dependencies and not others, mostly without deciding which. The question is where resilience or domestic capacity is worth a measurable cost, and who holds that decision.
Feeds The Investment Package
WorkshopThe Investment Package: What Makes a Project Investable Before It Reaches Committee?
The programme is still taking shape.
If you hold one of these decisions, know who should be in the room, or have a live case that belongs on the table, we want to hear from you. The rooms are composed one seat at a time, around the people each question needs.
Tell us what it is missing.
You know what a question is missing, what is framed badly, who needs to be in the room, or you have a live case that belongs on the table. Tell us.
Co-create or back a room.
Shape the question with us, or fund the work behind it. Bringing a live structure, company or asset is another way in.
Apply for a place.
Access is approval-based. Places are reviewed for role, relevance and the contribution you can make to the day.