Top 23 Venture Capital Firms in Illinois
Top 23 Venture Capital Firms in Illinois
Venture capital firms in Illinois support dynamic startups with essential funding and guidance. These companies focus on various sectors including technology, healthcare, and consumer goods. Often targeting early-stage ventures, they aim to fuel innovation and market growth. The industry is evolving to emphasize sustainable practices and tech-driven solutions, reflecting shifting market demands. With investments that can range from seed capital to significant equity stakes, these firms not only provide monetary resources but also strategic advice that can be pivotal for young companies. As challenges in fundraising intensify, venture firms play an increasingly critical role in shaping the economic future.
This listing highlights 23 prominent venture capital firms in Illinois, primarily located in Chicago. Founded between 1981 and 2020, these firms range in size from small teams to larger entities with over 200 employees. They specialize in various sectors, such as technology, healthcare, and sustainable practices. Notable names like Baird Capital and S2G Ventures capture investments to support innovative ideas. Collectively, they contribute to the vibrant business landscape of the region, driving entrepreneurship and economic growth.
Continue reading to discover the top venture capital firms in Illinois.
Top 23 Venture Capital Firms Companies in Illinois
1. Baird Capital
- Website: bairdcapital.com
- Ownership type: Private
- Headquarters: Chicago, Illinois, United States (USA)
- Employee distribution: United States (USA) 63%, United Kingdom (UK) 29%, Singapore 8%
- Founded year: 1989
- Headcount: 51-200
- LinkedIn: baird-capital-partners-europe-limited
Baird Capital is an investment firm based in Chicago, Illinois, specializing in venture capital and private equity. Founded in 1989, the firm has built a reputation for providing not just capital, but also strategic support to businesses in the B2B technology and services sectors. With a team of approximately 51-200 employees, Baird Capital operates globally, with a significant presence in the United States, the United Kingdom, and Singapore. The firm invests across the full capital spectrum, from early-stage ventures to late-stage buyouts, focusing on areas where they have substantial expertise. Their investment strategy is characterized by a partnership approach, working closely with management teams to drive growth and operational improvements. Baird Capital's portfolio includes companies in sectors such as financial technology, healthcare IT, and industrial technology, reflecting their commitment to supporting high-potential businesses. They are also recognized for their corporate citizenship and commitment to inclusion and diversity within their team and the communities they serve.
2. S2G Ventures
- Website: s2gventures.com
- Ownership type: Private
- Headquarters: Chicago, Illinois, United States (USA)
- Latest funding: $100.0M, August 2020
- Founded year: 2014
- Headcount: 11-50
- LinkedIn: s2g-ventures
S2G Ventures, founded in 2014 and based in Chicago, Illinois, is a private investment firm dedicated to supporting entrepreneurs in sectors such as energy, food and agriculture, and ocean health. The firm aims to drive significant change by investing in innovative solutions that are more efficient and sustainable than traditional methods. With a portfolio that includes over 100 companies across 10 countries, S2G Ventures has committed $2.5 billion in capital to foster growth and innovation. Their approach emphasizes collaboration and partnership, working closely with businesses to scale operations and tackle global challenges. Recent investments include companies focused on bridging the digital divide and enhancing sustainable practices in agriculture, showcasing their commitment to impactful investing.
3. ARCH Venture Partners
- Website: archventure.com
- Ownership type: Private
- Headquarters: Chicago, Illinois, United States (USA)
- Employee distribution: United States (USA) 97%, Ireland 3%
- Founded year: 1986
- Headcount: 11-50
- LinkedIn: arch-venture-partners
ARCH Venture Partners, founded in 1986 and based in Chicago, Illinois, is a private venture capital firm that specializes in biotechnology investments. With a team of around 62 employees, the firm focuses on providing funding and strategic support to early-stage companies in the life sciences sector. ARCH is known for its hands-on approach, working closely with entrepreneurs to navigate the complexities of bringing innovative medical solutions to market. The firm has a robust portfolio that includes companies involved in groundbreaking research and development, particularly in areas such as gene therapy, cancer treatment, and advanced diagnostics. Their commitment to fostering long-term partnerships and their ability to identify and support transformative scientific ideas have made them a notable entity in the venture capital industry.
4. First Analysis
- Website: firstanalysis.com
- Ownership type: Private
- Headquarters: Chicago, Illinois, United States (USA)
- Employee distribution: United States (USA) 95%, India 5%
- Founded year: 1981
- Headcount: 11-50
- LinkedIn: first-analysis
First Analysis is a Chicago-based venture capital firm and investment bank that specializes in providing capital and advisory services to high-growth technology companies. Founded in 1981, the firm has invested over $825 million across multiple funds, focusing primarily on sectors such as healthcare and technology/SaaS. Their approach combines capital investment with integrative research, allowing them to identify and leverage opportunities in emerging markets. First Analysis partners with management teams to enhance their strategies, recruitment, and corporate development, ensuring that their portfolio companies are well-positioned for growth. The firm operates primarily in North America and has a small team of professionals dedicated to navigating the complexities of the technology landscape. Their commitment to responsible investment practices further underscores their role in fostering sustainable growth within the industries they serve.
5. Hyde Park Angels
- Website: hydeparkangels.com
- Ownership type: Private
- Headquarters: Chicago, Illinois, United States (USA)
- Employee distribution: United States (USA) 100%
- Founded year: 2007
- Headcount: 51-200
- LinkedIn: hyde-park-angels_2
Hyde Park Angels (HPA) is a venture capital firm based in Chicago, Illinois, established in 2007. The firm specializes in early-stage investments, partnering with entrepreneurs to transform innovative ideas into successful businesses. HPA focuses on various sectors, including technology, healthcare, and consumer products, and has played a pivotal role in fostering economic growth in the Midwest. With a membership of over a hundred successful entrepreneurs and executives, HPA leverages their expertise and networks to provide critical support to startups. The firm has been involved in numerous funding rounds, helping startups secure nearly a billion dollars since its inception. HPA's approach combines financial backing with organizational support, ensuring that founders are well-equipped to navigate the challenges of scaling their businesses.
6. OCA Ventures
- Website: ocaventures.com
- Ownership type: Private
- Headquarters: Chicago, Illinois, United States (USA)
- Employee distribution: United States (USA) 100%
- Founded year: 1999
- Headcount: 1-10
- LinkedIn: oca-ventures
OCA Ventures, based in Chicago, Illinois, is a private venture capital firm founded in 1999. The firm specializes in investing in innovative technology and healthcare companies, providing not only funding but also strategic consulting to help startups and growth-stage businesses navigate the complexities of securing investment and scaling operations. With a portfolio that includes a variety of companies across multiple industries, OCA Ventures demonstrates a commitment to fostering innovation and growth. Their approach reflects a deep understanding of the challenges faced by emerging companies, positioning them as a supportive partner in the entrepreneurial journey.
7. TechNexus Venture Collaborative
- Website: technexus.com
- Ownership type: Private
- Headquarters: Chicago, Illinois, United States (USA)
- Employee distribution: United States (USA) 100%
- Founded year: 2007
- Headcount: 11-50
- LinkedIn: technexus
TechNexus Venture Collaborative, founded in 2007 and based in Chicago, Illinois, operates as a venture capital firm dedicated to bridging the gap between corporations and ambitious entrepreneurs. The firm specializes in creating growth opportunities through joint ventures, investment funds, and a collaboration center that nurtures innovation. TechNexus connects established businesses with early-stage ventures, facilitating the development of new products and business models. Their portfolio includes a variety of startups across different sectors, and they actively participate in the Chicago innovation ecosystem. TechNexus is also committed to promoting equity in the tech industry by supporting marginalized groups and fostering an inclusive environment for entrepreneurs. This approach not only enhances their investment strategy but also contributes to a more vibrant entrepreneurial community.
8. Jump Capital
- Website: jumpcap.com
- Ownership type: Private
- Headquarters: Chicago, Illinois, United States (USA)
- Employee distribution: United States (USA) 100%
- Founded year: 2012
- Headcount: 11-50
- LinkedIn: jump-capital
Jump Capital, founded in 2012 and based in Chicago, Illinois, is a venture capital firm that specializes in early-stage investments. The firm primarily targets companies in the fintech and software sectors, providing not only financial resources but also strategic guidance to help startups overcome growth hurdles. With a team of seasoned operators, Jump Capital emphasizes a collaborative approach, working closely with founders to understand their business intricacies. Their portfolio includes technology-focused businesses that benefit from their rigorous financial expertise and operational support. Jump Capital has established a reputation for being a reliable partner, as reflected in the positive feedback from their portfolio companies, which appreciate the tangible assistance they receive in scaling their operations.
9. Hyde Park Venture Partners
- Website: hydeparkvp.com
- Ownership type: Private
- Headquarters: Chicago, Illinois, United States (USA)
- Employee distribution: United States (USA) 87%, India 13%
- Founded year: 2011
- Headcount: 1-10
- LinkedIn: hyde-park-venture-partners
Hyde Park Venture Partners, founded in 2011 and based in Chicago, Illinois, is a venture capital firm dedicated to early-stage technology startups primarily in the mid-continent region. With a small team of around 31 employees, they specialize in identifying high-growth potential companies and providing not just capital but also strategic guidance to help these businesses scale effectively. The firm has a strong track record of supporting its portfolio companies, which include successful ventures like ShipBob, a tech-enabled fulfillment provider, and G2, a marketplace for software reviews. Recently, they announced the raising of Fund IV, amounting to $98 million, which underscores their ongoing relevance and commitment to fostering innovation in the tech sector. Their approach combines financial investment with hands-on support, making them a valuable partner for startups looking to navigate the challenges of growth.
10. The Blue Venture Fund
- Website: blueventurefund.com
- Ownership type: Private
- Headquarters: Chicago, Illinois, United States (USA)
- Employee distribution: United States (USA) 100%
- Founded year: 2008
- Headcount: 11-50
- LinkedIn: the-blue-venture-fund
The Blue Venture Fund (BVF) is a venture capital firm based in Chicago, Illinois, established in 2008. It operates as a collaboration among Blue Cross Blue Shield (BCBS) companies, the Blue Cross Blue Shield Association (BCBSA), and Sandbox Industries. The firm is dedicated to investing in healthcare technology, services, and clinical sciences, aiming to drive innovation in a sector undergoing significant transformation. BVF provides equity investments, strategic guidance, and partnership opportunities to emerging healthcare companies, aligning its investments with the strategic goals of its BCBS Plan investors. The firm’s portfolio includes a range of companies focused on improving healthcare delivery and outcomes, showcasing its commitment to fostering advancements in the industry. With a team experienced in both venture capital and healthcare, BVF emphasizes building long-term relationships with entrepreneurs, recognizing the challenges of growing a business in this complex field.
11. G Squared
- Website: gsquared.com
- Ownership type: Private
- Headquarters: Chicago, Illinois, United States (USA)
- Employee distribution: United States (USA) 74%, Switzerland 22%, United Kingdom (UK) 4%
- Founded year: 2011
- Headcount: 11-50
- LinkedIn: gsquaredequitymanagement
G Squared is a venture capital firm based in Chicago, Illinois, founded in 2011. The firm specializes in investing in growth-stage technology companies, providing transitional capital to facilitate their growth and liquidity solutions for early investors and employees. G Squared's investment strategy is designed to address the challenges faced by companies that are staying private longer, allowing them to access both primary capital for growth and secondary capital for liquidity. The firm has built a portfolio that includes over 100 companies, featuring well-known names such as Airbnb, Coursera, and Spotify, as well as emerging disruptors like Brex and Capsule. With offices in Chicago, San Francisco, Zurich, and Miami, G Squared operates on a global scale, leveraging its expertise to partner with innovative companies that are reshaping traditional industries.
12. Lightbank
- Website: lightbank.com
- Ownership type: Private
- Headquarters: Chicago, Illinois, United States (USA)
- Employee distribution: United States (USA) 100%
- Founded year: 2010
- Headcount: 1-10
- LinkedIn: lightbank
Lightbank is a private investment firm based in Chicago, Illinois, founded in 2010. The firm specializes in providing capital and consulting services to startups, particularly in the technology and healthcare sectors. With a small team of around 23 employees, Lightbank focuses on helping businesses navigate growth challenges and access essential resources. Their portfolio features a variety of companies, showcasing their commitment to fostering innovation and entrepreneurship. Notably, Lightbank recently announced a $290 million Fund III, indicating their active role in the venture capital market and their intention to continue supporting emerging businesses. This involvement highlights their relevance in the investment community, particularly for startups seeking guidance and funding.
13. VITALIZE Venture Capital
- Website: vitalize.vc
- Ownership type: Private
- Headquarters: Chicago, Illinois, United States (USA)
- Employee distribution: United States (USA) 94%, Philippines 6%
- Founded year: 2017
- Headcount: 1-10
- LinkedIn: vitalizevc
VITALIZE Venture Capital, founded in 2017 and based in Chicago, Illinois, specializes in early-stage investments within the WorkTech sector. The firm operates with a clear mission: to support startup founders by providing not only financial backing but also educational resources and networking opportunities. VITALIZE has established a community of over 500 angel investors, which enhances their investment strategy by making capital more accessible to a wider range of individuals. The firm has invested in more than 150 pre-seed and seed-stage deals, demonstrating a robust track record in identifying and nurturing promising startups. Their current fund, Fund II, amounts to $23.4 million, reflecting their active engagement in the venture capital space. VITALIZE's focus on people-first, data-driven ideas positions them well to capitalize on the evolving needs of the workforce, making them a notable player in the venture capital industry.
14. R7
- Website: r7.vc
- Ownership type: Private
- Headquarters: Chicago, Illinois, United States (USA)
- Employee distribution: United States (USA) 100%
- Founded year: 2014
- Headcount: 1-10
- LinkedIn: r7-partners
R7 Partners, based in Chicago, Illinois, is a private venture capital firm founded in 2014. The firm specializes in early-stage investments across various industries, particularly in mobility, energy, and robotics. R7 Partners is dedicated to supporting entrepreneurs by providing not just capital but also resources to help them grow their businesses. Their investment strategy focuses on innovative companies that are poised to make a significant impact in their fields. R7 has partnered with a range of companies, including those involved in electric trailers, autonomous cargo flights, and advanced energy solutions, showcasing their commitment to critical industries. The firm operates with a small team, emphasizing a hands-on approach to nurturing the startups in their portfolio.
15. M25
- Website: m25vc.com
- Ownership type: Private
- Headquarters: Chicago, Illinois, United States (USA)
- Employee distribution: United States (USA) 100%
- Founded year: 2015
- Headcount: 1-10
- LinkedIn: m25-vc
M25 is a Chicago-based venture capital firm established in 2015, dedicated to investing in early-stage technology startups located in the Midwest. The firm prides itself on its analytical approach to venture investing, which aims to mitigate risks while achieving high returns. M25 emphasizes the importance of networking and collaboration, actively working to connect entrepreneurs with investors. They host events such as the Club M25 Summit, which serves as a platform for portfolio companies and investors to engage, share insights, and foster relationships. M25's investment strategy is focused on pre-seed and seed-stage companies, and they have built a portfolio that spans various tech sectors, including AI, fintech, and SaaS. Their commitment to the Midwest region reflects a strategic choice to support local innovation and entrepreneurship.
16. Corazon Capital
- Website: corazon.com
- Ownership type: Private
- Headquarters: Chicago, Illinois, United States (USA)
- Employee distribution: United States (USA) 100%
- Founded year: 2014
- Headcount: 1-10
- LinkedIn: corazon-capital-llc
Corazon Capital, founded in 2014 and based in Chicago, Illinois, is a venture capital firm dedicated to investing in early-stage companies. The firm specializes in Pre-Seed, Seed, and Series A funding, providing not only capital but also strategic support to entrepreneurs. Corazon Capital's team, which includes co-founders with impressive backgrounds in successful startups and public companies, brings a wealth of experience to the table. They have been involved in founding multiple companies and have overseen significant exits, showcasing their capability in the venture capital space. Their portfolio features a range of companies across various sectors, reflecting their commitment to fostering innovation and growth within the startup community. Corazon Capital emphasizes a hands-on approach, offering actionable insights to help entrepreneurs navigate the complexities of building and scaling their businesses.
17. 11 Tribes Ventures
- Website: 11tribes.vc
- Ownership type: Private
- Headquarters: Chicago, Illinois, United States (USA)
- Employee distribution: United States (USA) 100%
- Founded year: 2020
- Headcount: 1-10
- LinkedIn: 11-tribes
11 Tribes Ventures is a Chicago-based venture capital firm founded in 2020. The firm specializes in early-stage investments in technology and culture-driven startups. Their mission is to empower entrepreneurs by providing not only capital but also essential support services that promote resilience and sustainable business practices. They focus on the well-being of founders, allocating a portion of their investment to support mental and physical health initiatives. This innovative approach aims to create healthier work environments, which they believe will lead to better business outcomes. Their investment criteria typically target seed and Series A stages, with check sizes ranging from $250,000 to $750,000. They are particularly interested in sectors such as B2B SaaS, healthcare, cybersecurity, fintech, and AI. By concentrating on markets where they have strong connections, they aim to foster growth in non-traditional tech hubs, thereby broadening the scope of their investment portfolio.
18. Duchossois Capital Management
- Website: dcmllc.com
- Ownership type: Private
- Headquarters: Chicago, Illinois, United States (USA)
- Employee distribution: United States (USA) 100%
- Founded year: 2013
- Headcount: 11-50
- LinkedIn: duchossois-capital-management
Duchossois Capital Management, founded in 2013 and based in Chicago, Illinois, is an investment management firm that specializes in capital management and investment services. The firm focuses on providing financial support and strategic guidance to startups and businesses, helping them navigate their growth trajectories. With a team of around 58 employees, Duchossois Capital Management has made notable investments in various sectors, including technology and filtration. Their active participation in funding rounds, such as the recent investment in Patterns, showcases their commitment to supporting innovative companies. The firm operates entirely within the United States, emphasizing its focus on the domestic market and its dedication to fostering local business development.
19. Hpa
- Website: hpa.vc
- Ownership type: Private
- Headquarters: Chicago, Illinois, United States (USA)
- Employee distribution: United States (USA) 96%, Brazil 2%, Pakistan 2%
- Founded year: 2007
- Headcount: 51-200
- LinkedIn: hyde-park-angels
Hyde Park Angels (Hpa) is an investment firm based in Chicago, Illinois, specializing in early-stage investments. Founded in 2007, Hpa aims to provide not just venture capital but also organizational support to startups across various industries. Their approach is centered on empowering entrepreneurs, particularly in the Midwest, by utilizing their extensive network and operational expertise to drive business growth and innovation. Hpa has been instrumental in helping startups secure nearly a billion dollars in funding since its inception. Their portfolio includes companies like ShipBob, Simple Mills, and Factor, showcasing their involvement in sectors such as e-commerce, food and beverage, and health technology. Hpa actively participates in funding rounds, demonstrating their commitment to fostering economic growth and job creation in the region.
20. MK Capital
- Website: mkcapital.com
- Ownership type: Private
- Headquarters: Northfield, Illinois, United States (USA)
- Employee distribution: United States (USA) 100%
- Founded year: 2003
- Headcount: 1-10
- LinkedIn: mk-capital
MK Capital, based in Northfield, Illinois, is a venture capital firm established in 2003. With approximately $250 million in assets under management, MK Capital specializes in early and growth-stage investments primarily in technology and software sectors. The firm is known for its hands-on approach, providing not only financial backing but also strategic guidance and operational support to its portfolio companies. Their investment strategy focuses on business-to-business software, cloud services, and robotics, with a preference for companies that have a recurring revenue model. MK Capital has a proven track record, having facilitated ten successful exits in the past three years, showcasing their effectiveness in helping startups achieve significant growth and successful outcomes. Their portfolio features a range of companies, including Nerdio, Zefr, and CellTrak, reflecting their commitment to fostering innovation and supporting entrepreneurs in various sectors.
21. Pritzker Group
- Website: pritzkergroup.com
- Ownership type: Family Owned
- Headquarters: Chicago, Illinois, United States (USA)
- Employee distribution: United States (USA) 100%
- Founded year: 1996
- Headcount: 51-200
- LinkedIn: the-pritzker-group
Pritzker Group is an investment firm based in Chicago, Illinois, founded in 1996. The firm specializes in private capital, venture capital, and asset management, with a strong emphasis on supporting middle-market companies. Pritzker Group partners with entrepreneurs and family-owned businesses, offering not just capital but also strategic resources to help these companies overcome growth challenges. With a permanent capital base, they can align closely with management teams, enabling efficient decision-making and flexible transaction structures. The firm has invested in more than 100 companies across various sectors, demonstrating a robust engagement in the venture capital industry. Their portfolio includes notable names like Dollar Shave Club and The Honest Company, reflecting their commitment to innovative and consumer-focused businesses.
22. Cleveland Avenue
- Website: clevelandavenue.com
- Ownership type: Private
- Headquarters: Chicago, Illinois, United States (USA)
- Employee distribution: United States (USA) 100%
- Founded year: 2015
- Headcount: 51-200
- LinkedIn: cleveland-avenue
Cleveland Avenue is a Chicago-based venture capital firm founded in 2015. The firm specializes in investing in lifestyle consumer brands and technology companies, aiming to positively disrupt large and growing markets. They provide not only financial backing but also holistic business support to entrepreneurs, helping them unlock value and navigate competitive landscapes. Their portfolio features a range of innovative startups, including award-winning restaurants, direct-to-consumer brands, and health technology platforms. This involvement highlights their commitment to fostering growth in sectors that are increasingly relevant in today's economy.
23. Impact Engine
- Website: theimpactengine.com
- Ownership type: Venture Capital
- Headquarters: Chicago, Illinois, United States (USA)
- Employee distribution: United States (USA) 100%
- Latest funding: August 2020
- Founded year: 2011
- Headcount: 1-10
- LinkedIn: theimpactengine
Impact Engine is an investment management firm based in Chicago, Illinois, specializing in impact investing. Founded in 2011, the firm manages venture capital and private equity portfolios that aim to achieve both financial returns and positive social and environmental impacts. Their investment strategy focuses on sectors such as economic opportunity, environmental sustainability, and health equity. Impact Engine has built a reputation for its rigorous approach to due diligence and its commitment to fostering the impact investing ecosystem. The firm has successfully raised multiple funds, including an $85 million private equity fund announced in February 2024, bringing their total assets under management to $240 million. This growth reflects their ability to attract institutional and individual investors who are keen on aligning their financial goals with meaningful societal contributions.
Venture Capital Firms Insights: Key Companies in Illinois
Company | Headquarter | Size | Founded | Ownership |
---|---|---|---|---|
Baird Capital | Chicago, Illinois, United States (USA) | 51-200 | 1989 | Private |
S2G Ventures | Chicago, Illinois, United States (USA) | 11-50 | 2014 | Private |
ARCH Venture Partners | Chicago, Illinois, United States (USA) | 11-50 | 1986 | Private |
First Analysis | Chicago, Illinois, United States (USA) | 11-50 | 1981 | Private |
Hyde Park Angels | Chicago, Illinois, United States (USA) | 51-200 | 2007 | Private |
OCA Ventures | Chicago, Illinois, United States (USA) | 1-10 | 1999 | Private |
TechNexus Venture Collaborative | Chicago, Illinois, United States (USA) | 11-50 | 2007 | Private |
Jump Capital | Chicago, Illinois, United States (USA) | 11-50 | 2012 | Private |
Hyde Park Venture Partners | Chicago, Illinois, United States (USA) | 1-10 | 2011 | Private |
The Blue Venture Fund | Chicago, Illinois, United States (USA) | 11-50 | 2008 | Private |
G Squared | Chicago, Illinois, United States (USA) | 11-50 | 2011 | Private |
Lightbank | Chicago, Illinois, United States (USA) | 1-10 | 2010 | Private |
VITALIZE Venture Capital | Chicago, Illinois, United States (USA) | 1-10 | 2017 | Private |
R7 | Chicago, Illinois, United States (USA) | 1-10 | 2014 | Private |
M25 | Chicago, Illinois, United States (USA) | 1-10 | 2015 | Private |
Corazon Capital | Chicago, Illinois, United States (USA) | 1-10 | 2014 | Private |
11 Tribes Ventures | Chicago, Illinois, United States (USA) | 1-10 | 2020 | Private |
Duchossois Capital Management | Chicago, Illinois, United States (USA) | 11-50 | 2013 | Private |
Hpa | Chicago, Illinois, United States (USA) | 51-200 | 2007 | Private |
MK Capital | Northfield, Illinois, United States (USA) | 1-10 | 2003 | Private |
Pritzker Group | Chicago, Illinois, United States (USA) | 51-200 | 1996 | Family Owned |
Cleveland Avenue | Chicago, Illinois, United States (USA) | 51-200 | 2015 | Private |
Impact Engine | Chicago, Illinois, United States (USA) | 1-10 | 2011 | Venture Capital |
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