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h3{font-size:28px;max-width:350px}.formation-description{font-size:13px;margin-top:15px;max-width:none}.capital-line{margin-top:19px}.conditions{font-size:11px}.formation-controls{grid-template-columns:repeat(4,minmax(0,1fr));margin-top:23px}.step-button{display:block;padding:13px 8px 10px 0;font-size:10px;line-height:1.3;min-height:62px}.step-number{display:block;margin-bottom:7px}.formation-bottom{display:block;margin-top:10px}.formation-note{text-align:left;max-width:390px;font-size:10px;line-height:1.6}.scenario-toggle{font-size:12px}.section{padding-block:65px}.section-label{font-size:10px;margin-bottom:24px}h2{font-size:38px}.intro-title{font-size:44px;letter-spacing:-.055em;margin-bottom:30px}.intro-grid{grid-template-columns:1fr;gap:26px}.intro-grid p,.section-copy{font-size:17px}.quote{font-size:30px}.brief-sheet{margin-top:30px}.brief-row{grid-template-columns:92px 1fr;gap:15px;font-size:13px;padding:15px 0}.case-intro{font-size:16px;margin-top:24px}.case-path{gap:30px 22px}.case-step h3{font-size:21px}.case-step p{font-size:13px}.case-step .eyebrow{margin-bottom:19px}.case-note{font-size:11px}.participation{margin-top:35px}.participation-row{grid-template-columns:70px 1fr 65px;gap:12px;font-size:12px;padding-block:15px}.participation-head{font-size:9px;letter-spacing:.015em}.quiet-note{font-size:12px}.office-note{padding:23px}.office-note h3{font-size:28px}.office-note p{font-size:14px}.office-note-header{font-size:10px;margin-bottom:25px}.note-verdict{font-size:11px}.research-feature{grid-template-columns:1fr;gap:12px;margin-top:35px}.research-feature .meta{margin-bottom:12px}.research-feature h3{font-size:35px}.research-feature p{font-size:16px;margin-top:22px}.research-links{gap:15px 27px}.closing{padding-block:65px}.closing h2{font-size:47px}.closing-bottom{display:block;margin-top:27px}.closing-bottom p{font-size:15px}.closing-bottom 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.arrow{font-size:28px}.research-index-title{font-size:10px;padding-bottom:8px}.research-index{padding-bottom:55px}.research-principle{grid-template-columns:1fr;gap:20px;padding-block:40px}.research-principle p{font-size:15px}.article-hero{padding-block:43px}.article-hero h1{font-size:46px;letter-spacing:-.058em}.article-hero .eyebrow{font-size:10px;margin-bottom:23px}.article-hero .lede{font-size:19px}.article-layout{padding-bottom:65px}.article-body{font-size:17px;line-height:1.65}.article-body h2{font-size:29px}.article-body blockquote{font-size:27px;padding-left:19px}.article-body section+section{margin-top:42px}.article-body .research-boundary{font-size:14px}.article-body .reference-list{font-size:13px}.related .publication{grid-template-columns:1fr 24px}.company-founder h3{font-size:35px}.company-founder p{font-size:17px}dialog{padding:27px}.dialog-title{font-size:37px}.role-options{flex-direction:column;gap:9px}.dialog-description{font-size:14px}.membership-form textarea{min-height:110px}.paper-download{align-items:flex-start;flex-direction:column;gap:12px}}
@media(max-width:360px){.hero h1{font-size:51px}.hero-actions{gap:10px}.hero-actions .button-solid{gap:16px;padding-inline:13px}.hero-actions .text-link{font-size:11px}.hero .eyebrow{font-size:9px}.hero-copy{font-size:17px}.case-path{grid-template-columns:1fr}.participation-row{grid-template-columns:57px 1fr 58px;gap:8px}.conditions{font-size:10px}.subhero h1{font-size:47px}}
@media(prefers-reduced-motion:reduce){html{scroll-behavior:auto}*,*::before,*::after{animation:none!important;transition:none!important}}
@media print{.status-strip,.primary-nav,.menu-toggle,.site-footer,.formation-controls,.formation-bottom,dialog,.article-toc{display:none!important}.site-header{height:65px}.wrap{padding-inline:0}.article-layout{display:block}.article-hero h1{font-size:42px}.article-body{font-size:12pt;max-width:none}.article-body h2{font-size:20pt}body{background:white;color:black}.section{padding-block:35px}a{text-decoration:underline}.article-body section{break-inside:avoid}}
.sr-only{position:absolute;width:1px;height:1px;padding:0;margin:-1px;overflow:hidden;clip:rect(0,0,0,0);white-space:nowrap;border:0}html{scrollbar-gutter:stable}html:has(dialog[open]){overflow:hidden}.formation .conditions span.sr-only{display:block}.formation-note br{display:none}.formation-aside{min-height:365px}.article-body a{overflow-wrap:anywhere}.no-js-note{margin-top:24px}.menu-toggle[hidden]{display:none!important}@media(max-width:600px){.formation-aside{min-height:340px}.js .formation-bottom{display:block}.hero-line:first-child{max-width:100%}.conditions{min-height:40px}.site-header .wordmark{font-size:25px;gap:10px}.brand-mark{width:36px;height:29px}.primary-nav a{display:flex;align-items:center}.formation-mobile .quiet-note{font-size:11px}.article-body h2{overflow-wrap:break-word}}@media(prefers-reduced-motion:no-preference){.button-solid{transition:background-color .15s}.text-link{transition:gap .15s}}
@media(min-width:601px) and (max-width:1100px){.formation-grid{grid-template-columns:1fr}.formation-aside{display:grid;grid-template-columns:1fr 1fr;gap:0 32px;min-height:260px;padding:0}.formation-status{grid-column:1/-1}.formation-description{margin-top:0;max-width:none}.capital-line,.capital-meter,.conditions{grid-column:1/-1}.formation-drawing{min-height:0}.formation-aside h3{max-width:450px}}

/* Continuing-office edition: typography, correspondence and the capital record. */
.mandate-hero{padding-block:54px 70px}
.mandate-hero h1{font-size:clamp(76px,9.3vw,158px);line-height:.98;letter-spacing:-.065em}
.hero-summary{display:grid;grid-template-columns:1.12fr 1fr;gap:clamp(50px,8vw,140px);align-items:end;margin-top:46px}
.mandate-hero .hero-copy{font-size:clamp(19px,1.5vw,23px);max-width:610px;line-height:1.45}
.mandate-hero .hero-copy p+p{margin-top:20px}
.mandate-hero .hero-actions{margin-top:30px;gap:20px 30px}
.hero-composition{width:100%;max-width:560px;align-self:center;color:var(--ink)}
.hero-composition svg{width:100%;font-family:var(--font)}
.hero-composition figcaption{font-size:12px;color:var(--muted);border-top:1px solid var(--line);padding-top:14px;margin-top:8px}
.section-heading{margin-bottom:52px}
.section-intro{font-size:18px;max-width:420px;margin-top:30px;color:var(--muted)}
.correspondence-list{margin-top:55px;border-top:1px solid var(--ink)}
.correspondence-row{display:grid;grid-template-columns:.3fr 1fr 1.1fr;gap:30px;padding:28px 0;border-bottom:1px solid var(--line)}
.correspondence-row .eyebrow{padding-top:5px;font-size:11px;color:var(--muted)}
.correspondence-row p{font-size:20px;line-height:1.4;letter-spacing:-.025em}
.correspondence-row p+p{margin-top:0;font-size:16px;line-height:1.55;letter-spacing:0;color:var(--muted)}
.adviser-band{display:grid;grid-template-columns:1fr 1fr;gap:70px;margin-top:70px;padding-top:32px;border-top:1px solid var(--ink)}
.adviser-band h3{font-size:30px}.adviser-band p{font-size:17px;max-width:620px}
.formation-section{padding-bottom:75px}.formation-aside{min-height:400px}
.scenario-options{display:flex;flex-wrap:wrap;gap:8px 20px}
.scenario-options button{padding:12px 0;font-size:12px;min-height:44px;border-bottom:1px solid transparent}
.scenario-options button[aria-pressed=true]{border-bottom-color:var(--ink);font-weight:500}
.formation-bottom{align-items:start}.formation-note{max-width:300px;padding-top:12px}
.formation-controls .step-button{font-size:13px;min-height:55px}
.chapter-nav{display:flex;gap:clamp(25px,5vw,90px);border-block:1px solid var(--ink);padding:15px 0;flex-wrap:wrap}
.chapter-nav a{font-size:14px;text-decoration:none;padding:10px 0}
.chapter-nav a:hover{text-decoration:underline}
.correspondence-pair{display:grid;grid-template-columns:1fr 1fr;gap:70px;border-top:1px solid var(--ink)}
.correspondence,.consequence{padding-top:28px;min-width:0}
.correspondence>.eyebrow,.consequence>.eyebrow{font-size:11px;color:var(--muted);margin-bottom:28px}
.correspondence p{font-size:18px;line-height:1.6;max-width:600px}
.consequence h3{font-size:32px;margin-bottom:24px}
.consequence>p:not(.eyebrow){font-size:17px;line-height:1.6;max-width:600px}
.message-meta{font-size:13px;margin:0 0 30px;border-block:1px solid var(--line);padding:14px 0}
.message-meta>div{display:grid;grid-template-columns:65px 1fr;gap:12px;padding-block:4px}
.message-meta dt{color:var(--muted)}.message-meta dd{margin:0;overflow-wrap:anywhere}
.correspondence .attachment-label{font-size:12px;border-top:1px solid var(--line);padding-top:16px;margin-top:28px;color:var(--muted)}
.correspondence .quiet-note{font-size:12px;line-height:1.5}
.correspondence .message-quote{font-size:clamp(25px,2.1vw,34px);line-height:1.3;letter-spacing:-.035em}
.call-record{margin-top:45px;border-top:1px solid var(--line);padding-top:22px}
.call-record .eyebrow{font-size:11px;color:var(--muted);margin-bottom:20px}
.call-record p{font-size:16px}
.decision-note{display:grid;grid-template-columns:1fr 1fr;gap:22px 70px;border-top:1px solid var(--line);padding-top:34px;margin-top:52px}
.decision-note h3{font-size:29px;grid-row:span 2}
.decision-note p{font-size:17px;margin-top:0;max-width:620px}
.ledger-rows{margin:32px 0 0;border-top:1px solid var(--ink);font-variant-numeric:tabular-nums}
.ledger-row{display:flex;justify-content:space-between;gap:22px;padding:17px 0;border-bottom:1px solid var(--line);font-size:15px}
.ledger-row dt{color:var(--muted);max-width:70%}.ledger-row dd{margin:0;white-space:nowrap}
.ledger-total{padding-block:22px;border-bottom-color:var(--ink);font-weight:500}.ledger-total dt{color:var(--ink)}
.ledger-demo{max-width:1040px;margin-inline:auto;border-top:1px solid var(--ink)}
.js .ledger-controls{display:grid;grid-template-columns:repeat(4,minmax(0,1fr));gap:12px;border-bottom:1px solid var(--line)}
.ledger-controls button{text-align:left;padding:17px 0;font-size:13px;line-height:1.4;min-height:60px;border-bottom:2px solid transparent}
.ledger-controls button[aria-pressed=true]{border-bottom-color:var(--ink);font-weight:500}
.ledger-title{display:grid;grid-template-columns:1fr 1.4fr;gap:40px;padding-top:36px;min-height:145px}
.ledger-title h3{font-size:31px}.ledger-title p{font-size:16px;line-height:1.6;max-width:550px}
.ledger-demo .ledger-row{font-size:17px;padding-block:18px}
.ledger-foot{display:flex;gap:35px;justify-content:space-between;margin-top:25px;font-size:13px}
.ledger-foot strong{font-weight:400;display:block;font-size:20px;margin-top:8px;font-variant-numeric:tabular-nums}
.static-events section{margin-top:55px;border-top:1px solid var(--line)}
.continuing-message{margin-top:65px}
.methods-report{display:grid;grid-template-columns:1fr 2.3fr;gap:38px;padding:65px 0;border-bottom:1px solid var(--line)}
.methods-report h2{font-size:clamp(32px,4vw,58px)}
.methods-report p{font-size:17px;line-height:1.6;max-width:740px;margin-top:24px}
.methods-report .methods-subtitle{font-size:20px;line-height:1.4;color:var(--muted);margin-top:20px}
.methods-report .text-link{margin-top:20px}
.article-body{max-width:720px}.article-body p{overflow-wrap:break-word}
.article-toc a{min-height:40px}.research-feature h2{font-size:clamp(32px,4vw,56px)}
.company-founder h2{font-size:40px;margin-bottom:16px}
@media(max-width:1100px){
 .hero-summary{gap:45px}.mandate-hero .hero-actions{flex-direction:column;align-items:flex-start;gap:12px}
 .correspondence-pair,.adviser-band,.decision-note{gap:35px}.formation-aside{min-height:310px}
 .correspondence-row{grid-template-columns:.25fr 1fr 1.1fr;gap:22px}
}
@media(max-width:900px){
 .formation-desktop{display:none}.formation-mobile{display:block}
 .formation-aside{display:flex;min-height:340px}.formation-grid{grid-template-columns:1fr}
 .mobile-track{padding-bottom:20px;border-bottom:1px solid var(--line)}
 .mobile-track-top,.mobile-track-bottom{display:flex;justify-content:space-between;gap:20px;font-size:13px}
 .mobile-track-top strong,.mobile-track-bottom strong{font-weight:500}
 .mobile-track svg{width:100%;height:100px}.mobile-track-bottom .muted{text-align:right}
 .other-investors{font-size:13px;margin-top:16px}.other-investors summary{padding:12px 0;min-height:44px}
 .other-investor{display:flex;justify-content:space-between;gap:20px;border-top:1px solid var(--line);padding:10px 0}
 .hero-summary{grid-template-columns:1.2fr .8fr;gap:32px}.hero-composition svg{min-height:150px}
 .correspondence-row{grid-template-columns:75px 1fr;gap:10px 22px}.correspondence-row p+p{grid-column:2}
 .methods-report{grid-template-columns:.7fr 2fr;gap:25px}
}
@media(max-width:600px){
 .mandate-hero{padding-block:35px 45px}.mandate-hero h1{font-size:clamp(46px,11.5vw,69px);line-height:1.01;letter-spacing:-.06em}
 .mandate-hero .hero-line{display:inline}.mandate-hero .eyebrow{max-width:280px;line-height:1.6}
 .hero-summary{grid-template-columns:1fr;gap:30px;margin-top:28px}.mandate-hero .hero-copy{font-size:18px;line-height:1.5}
 .mandate-hero .hero-actions{margin-top:25px;flex-direction:row;flex-wrap:wrap;gap:12px 24px}
 .hero-composition{max-width:430px}.hero-composition svg{min-height:0}.hero-composition figcaption{font-size:11px}
 .section-heading{margin-bottom:32px}.section-intro{font-size:16px;margin-top:24px}
 .correspondence-list{margin-top:35px}.correspondence-row{grid-template-columns:1fr;padding:23px 0;gap:13px}
 .correspondence-row p{font-size:23px}.correspondence-row p+p{grid-column:1;font-size:15px}
 .adviser-band,.correspondence-pair,.decision-note{grid-template-columns:1fr;gap:25px}
 .adviser-band{margin-top:45px;padding-top:26px}.adviser-band p,.decision-note p{font-size:16px}
 .adviser-band h3,.decision-note h3{font-size:28px}.decision-note h3{grid-row:auto}
 .correspondence,.consequence{padding-top:22px}.consequence{border-top:1px solid var(--line)}
 .correspondence>.eyebrow,.consequence>.eyebrow{margin-bottom:23px}.consequence h3{font-size:28px}
 .correspondence p,.consequence>p:not(.eyebrow){font-size:16px}
 .correspondence .message-quote{font-size:27px}.call-record{margin-top:30px}
 .message-meta{font-size:12px}.message-meta>div{grid-template-columns:48px 1fr;gap:10px}
 .chapter-nav{gap:0;display:grid;grid-template-columns:repeat(2,1fr);padding:10px 0}.chapter-nav a{min-height:44px;font-size:13px}
 .decision-note{margin-top:35px;padding-top:25px}.continuing-message{margin-top:42px}
 .ledger-row{font-size:13px;gap:16px}.ledger-row dt{max-width:67%}
 .ledger-title{grid-template-columns:1fr;gap:20px;padding-top:28px;min-height:200px}
 .ledger-title h3{font-size:28px}.ledger-title p{font-size:15px}
 .js .ledger-controls{grid-template-columns:repeat(2,minmax(0,1fr));gap:0 15px}
 .ledger-controls button{font-size:12px;min-height:55px;padding-block:14px}
 .ledger-demo .ledger-row{font-size:14px;padding-block:17px}.ledger-foot{font-size:12px;gap:20px}
 .ledger-foot strong{font-size:20px}.ledger-demo .quiet-note{font-size:11px}
 .formation-aside{min-height:395px}.formation-controls .step-button{font-size:11px;min-height:52px;padding-right:4px}
 .formation-heading .eyebrow{font-size:9px}.scenario-options{gap:5px 20px}.scenario-options button{font-size:12px}
 .formation-note{max-width:none;text-align:left;padding-top:10px}.conditions{font-size:11px}
 .mobile-track-top,.mobile-track-bottom{font-size:12px}.mobile-track-top .muted{text-align:right;max-width:145px}
 .methods-report{grid-template-columns:1fr;gap:22px;padding-block:42px}.methods-report p{font-size:16px}
 .methods-report .methods-subtitle{font-size:18px}.company-founder h2{font-size:35px}
}
@media(max-width:360px){.mandate-hero h1{font-size:46px}.mandate-hero .hero-copy{font-size:17px}.hero-actions .text-link{font-size:12px}.formation-aside{min-height:430px}.ledger-demo .ledger-row{font-size:13px}}
@media print{.chapter-nav,.hero-composition,.ledger-controls,.scenario-options{display:none!important}.correspondence-pair,.hero-summary,.ledger-title{display:block}.static-events section{break-inside:avoid}.mandate-hero h1{font-size:48px}}

/* Marcellus identity. The blue is confined to the wordmark. */
:root{--brand-blue:#2448c8}
.site-header .wordmark{display:inline-block;flex:none;font-family:'Marcellus',Georgia,serif;font-size:44px;font-weight:400;line-height:1.12;letter-spacing:-.025em;color:var(--brand-blue);text-decoration:none}
.footer-wordmark{display:block;width:fit-content;margin-bottom:14px;font-family:'Marcellus',Georgia,serif;font-size:34px;font-weight:400;line-height:1.12;letter-spacing:-.025em;color:var(--brand-blue);text-decoration:none}
@media(max-width:800px){.site-header .wordmark{font-size:38px}}
@media(max-width:600px){.site-header .wordmark{font-size:35px}.footer-wordmark{font-size:32px}}