


{"id":43223,"date":"2020-02-11T01:49:39","date_gmt":"2020-02-10T23:49:39","guid":{"rendered":"https:\/\/newserver.fyb.de\/s-ubg-second-closing-at-eur-40-million-of-techvision-fund-i\/"},"modified":"2020-02-11T01:49:39","modified_gmt":"2020-02-10T23:49:39","slug":"s-ubg-second-closing-at-eur-40-million-of-techvision-fund-i","status":"publish","type":"post","link":"https:\/\/www.fyb.de\/en\/s-ubg-second-closing-at-eur-40-million-of-techvision-fund-i\/","title":{"rendered":"S\u2011UBG: Second Closing at EUR 40 million of TechVision Fund&nbsp;I"},"content":{"rendered":"<p>Frank\u00adfurt a. Main \u2014 <strong>Tech\u00adVi\u00adsion Fonds I<\/strong> has doubled its subscrip\u00adtion capi\u00adtal to appro\u00adxi\u00adm\u00adately EUR 40 million after real\u00adlo\u00adca\u00adtion of the fund compared to the first closing.<strong> P+P P\u00f6llath + Part\u00adners<\/strong> advi\u00adsed the fund mana\u00adger, which is part of the <strong>S\u2011UBG Group<\/strong>, on all legal issues regar\u00adding fund struc\u00adture and distribution.<\/p>\n<p>Tech\u00adVi\u00adsion Fonds I is a venture capi\u00adtal fund with an <strong>invest\u00adment focus on tech\u00adno\u00adlogy compa\u00adnies in the Aachen, Krefeld and M\u00f6nchen\u00adglad\u00adbach regi\u00adons<\/strong>. Origi\u00adnally desi\u00adgned for seed invest\u00adments, the Tech\u00adVi\u00adsion Fund (form\u00aderly Seed Fonds III Aachen &amp; M\u00f6nchen\u00adglad\u00adbach) now aims to parti\u00adci\u00adpate in subse\u00adquent finan\u00adcing rounds of exis\u00adting port\u00adfo\u00adlio compa\u00adnies as well as a geogra\u00adphi\u00adcal expan\u00adsion beyond the econo\u00admic region of Aachen, in addi\u00adtion to early-stage investments.<\/p>\n<p>The gene\u00adral part\u00adner led by the manage\u00adment team of the S\u2011UBG Group is FM Fonds-Manage\u00adment f\u00fcr die Region Aachen Betei\u00adli\u00adgungs GmbH. S\u2011UBG is a leading part\u00adner in provi\u00adding equity capi\u00adtal for estab\u00adlished medium-sized compa\u00adnies as well as young, tech\u00adno\u00adlogy-orien\u00adted start-ups. As an asso\u00adcia\u00adtion of regio\u00adnal savings banks, S\u2011UBG can look back on more than 30 years of expe\u00adri\u00adence in the field of equity capi\u00adtal. With Tech\u00adVi\u00adsion Fonds I, the fund manage\u00adment company mana\u00adges the third gene\u00adra\u00adtion of its seed and early stage funds specia\u00adli\u00adzing in regio\u00adnal companies.<\/p>\n<p><strong>P+P P\u00f6llath + Part\u00adners<\/strong> advi\u00adsed the fund mana\u00adger compre\u00adhen\u00adsi\u00advely on all contrac\u00adtual, tax and regu\u00adla\u00adtory aspects of the fund struc\u00adtu\u00adring as well as the distri\u00adbu\u00adtion with the follo\u00adwing cross-loca\u00adtion private funds&nbsp;team.<br>\n\u2014 <strong>Dr. Andreas Rodin, Photo<\/strong> (Part\u00adner, Private Funds\/Tax Law, Frank\u00adfurt am&nbsp;Main)<br>\n\u2014 Jan Phil\u00adipp Neidel, LL.M. (UConn) (Senior Asso\u00adciate, Private Funds\/Tax Law\/Venture Capi\u00adtal, Berlin), Dr. Simon Schachin\u00adger (Asso\u00adciate, Private Funds\/Tax Law\/Venture Capi\u00adtal, Berlin)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Frank\u00adfurt a. Main \u2014 Tech\u00adVi\u00adsion Fonds I has doubled its subscrip\u00adtion capi\u00adtal to appro\u00adxi\u00adm\u00adately EUR 40 million after real\u00adlo\u00adca\u00adtion of the fund compared to the first closing. P+P P\u00f6llath + Part\u00adners advi\u00adsed the fund mana\u00adger, which is part of the S\u2011UBG Group, on all legal issues regar\u00adding fund struc\u00adture and distri\u00adbu\u00adtion. Tech\u00adVi\u00adsion Fonds I&nbsp;is&nbsp;[\u2026]<\/p>\n","protected":false},"author":2,"featured_media":43228,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"wp_typography_post_enhancements_disabled":false,"footnotes":""},"categories":[886,1364,1366,1373],"tags":[],"class_list":["post-43223","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general-en","category-featured-en","category-news-en","category-venture-capital-en"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>S-UBG: Second Closing at EUR 40 million of TechVision Fund I - FYB Financial Yearbook<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.fyb.de\/en\/s-ubg-second-closing-at-eur-40-million-of-techvision-fund-i\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"S-UBG: Second Closing at EUR 40 million of TechVision Fund I - FYB Financial Yearbook\" \/>\n<meta property=\"og:description\" content=\"Frank\u00adfurt a. Main \u2014 Tech\u00adVi\u00adsion Fonds I has doubled its subscrip\u00adtion capi\u00adtal to appro\u00adxi\u00adm\u00adately EUR 40 million after real\u00adlo\u00adca\u00adtion of the fund compared to the first closing. P+P P\u00f6llath + Part\u00adners advi\u00adsed the fund mana\u00adger, which is part of the S\u2011UBG Group, on all legal issues regar\u00adding fund struc\u00adture and distribution. Tech\u00adVi\u00adsion Fonds I is [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.fyb.de\/en\/s-ubg-second-closing-at-eur-40-million-of-techvision-fund-i\/\" \/>\n<meta property=\"og:site_name\" content=\"FYB Financial Yearbook\" \/>\n<meta property=\"article:published_time\" content=\"2020-02-10T23:49:39+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.fyb.de\/wp-content\/uploads\/2020\/02\/a-rodin-e1581378545753-1.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1317\" \/>\n\t<meta property=\"og:image:height\" content=\"1313\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Tatjana Anderer\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Tatjana Anderer\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.fyb.de\/en\/s-ubg-second-closing-at-eur-40-million-of-techvision-fund-i\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.fyb.de\/en\/s-ubg-second-closing-at-eur-40-million-of-techvision-fund-i\/\"},\"author\":{\"name\":\"Tatjana Anderer\",\"@id\":\"https:\/\/www.fyb.de\/en\/#\/schema\/person\/4308b3086925bc8567ceba3ebd69b4ce\"},\"headline\":\"S\u2011UBG: Second Closing at EUR 40 million of TechVision Fund&nbsp;I\",\"datePublished\":\"2020-02-10T23:49:39+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.fyb.de\/en\/s-ubg-second-closing-at-eur-40-million-of-techvision-fund-i\/\"},\"wordCount\":289,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/www.fyb.de\/en\/#organization\"},\"image\":{\"@id\":\"https:\/\/www.fyb.de\/en\/s-ubg-second-closing-at-eur-40-million-of-techvision-fund-i\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.fyb.de\/wp-content\/uploads\/2020\/02\/a-rodin-e1581378545753-1.jpg\",\"articleSection\":[\"General\",\"Featured\",\"News\",\"Venture Capital\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.fyb.de\/en\/s-ubg-second-closing-at-eur-40-million-of-techvision-fund-i\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.fyb.de\/en\/s-ubg-second-closing-at-eur-40-million-of-techvision-fund-i\/\",\"url\":\"https:\/\/www.fyb.de\/en\/s-ubg-second-closing-at-eur-40-million-of-techvision-fund-i\/\",\"name\":\"S-UBG: Second Closing at EUR 40 million of TechVision Fund I - FYB Financial Yearbook\",\"isPartOf\":{\"@id\":\"https:\/\/www.fyb.de\/en\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.fyb.de\/en\/s-ubg-second-closing-at-eur-40-million-of-techvision-fund-i\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.fyb.de\/en\/s-ubg-second-closing-at-eur-40-million-of-techvision-fund-i\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.fyb.de\/wp-content\/uploads\/2020\/02\/a-rodin-e1581378545753-1.jpg\",\"datePublished\":\"2020-02-10T23:49:39+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/www.fyb.de\/en\/s-ubg-second-closing-at-eur-40-million-of-techvision-fund-i\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.fyb.de\/en\/s-ubg-second-closing-at-eur-40-million-of-techvision-fund-i\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.fyb.de\/en\/s-ubg-second-closing-at-eur-40-million-of-techvision-fund-i\/#primaryimage\",\"url\":\"https:\/\/www.fyb.de\/wp-content\/uploads\/2020\/02\/a-rodin-e1581378545753-1.jpg\",\"contentUrl\":\"https:\/\/www.fyb.de\/wp-content\/uploads\/2020\/02\/a-rodin-e1581378545753-1.jpg\",\"width\":1317,\"height\":1313},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.fyb.de\/en\/s-ubg-second-closing-at-eur-40-million-of-techvision-fund-i\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.fyb.de\/en\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"S\u2011UBG: Second Closing at EUR 40 million of TechVision Fund&nbsp;I\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.fyb.de\/en\/#website\",\"url\":\"https:\/\/www.fyb.de\/en\/\",\"name\":\"FYB Financial Yearbook\",\"description\":\"For Your Business\",\"publisher\":{\"@id\":\"https:\/\/www.fyb.de\/en\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.fyb.de\/en\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/www.fyb.de\/en\/#organization\",\"name\":\"FYB Financial Yearbook\",\"url\":\"https:\/\/www.fyb.de\/en\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.fyb.de\/en\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/www.fyb.de\/wp-content\/uploads\/2020\/06\/logo.svg\",\"contentUrl\":\"https:\/\/www.fyb.de\/wp-content\/uploads\/2020\/06\/logo.svg\",\"caption\":\"FYB Financial Yearbook\"},\"image\":{\"@id\":\"https:\/\/www.fyb.de\/en\/#\/schema\/logo\/image\/\"}},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.fyb.de\/en\/#\/schema\/person\/4308b3086925bc8567ceba3ebd69b4ce\",\"name\":\"Tatjana Anderer\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.fyb.de\/en\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/11708a5289b743e6290bae8e4109e97efec1cb1ae5c7065f0bfc5c36f28c7757?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/11708a5289b743e6290bae8e4109e97efec1cb1ae5c7065f0bfc5c36f28c7757?s=96&d=mm&r=g\",\"caption\":\"Tatjana Anderer\"},\"description\":\"Gr\u00fcnderin des FYB-Verlag\",\"sameAs\":[\"http:\/\/neu.fyb.de\"],\"url\":\"https:\/\/www.fyb.de\/en\/author\/tanderer\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"S-UBG: Second Closing at EUR 40 million of TechVision Fund I - FYB Financial Yearbook","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.fyb.de\/en\/s-ubg-second-closing-at-eur-40-million-of-techvision-fund-i\/","og_locale":"en_US","og_type":"article","og_title":"S-UBG: Second Closing at EUR 40 million of TechVision Fund I - FYB Financial Yearbook","og_description":"Frank\u00adfurt a. Main \u2014 Tech\u00adVi\u00adsion Fonds I has doubled its subscrip\u00adtion capi\u00adtal to appro\u00adxi\u00adm\u00adately EUR 40 million after real\u00adlo\u00adca\u00adtion of the fund compared to the first closing. P+P P\u00f6llath + Part\u00adners advi\u00adsed the fund mana\u00adger, which is part of the S\u2011UBG Group, on all legal issues regar\u00adding fund struc\u00adture and distribution. Tech\u00adVi\u00adsion Fonds I is [&hellip;]","og_url":"https:\/\/www.fyb.de\/en\/s-ubg-second-closing-at-eur-40-million-of-techvision-fund-i\/","og_site_name":"FYB Financial Yearbook","article_published_time":"2020-02-10T23:49:39+00:00","og_image":[{"width":1317,"height":1313,"url":"https:\/\/www.fyb.de\/wp-content\/uploads\/2020\/02\/a-rodin-e1581378545753-1.jpg","type":"image\/jpeg"}],"author":"Tatjana Anderer","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Tatjana Anderer","Est. reading time":"1 minute"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.fyb.de\/en\/s-ubg-second-closing-at-eur-40-million-of-techvision-fund-i\/#article","isPartOf":{"@id":"https:\/\/www.fyb.de\/en\/s-ubg-second-closing-at-eur-40-million-of-techvision-fund-i\/"},"author":{"name":"Tatjana Anderer","@id":"https:\/\/www.fyb.de\/en\/#\/schema\/person\/4308b3086925bc8567ceba3ebd69b4ce"},"headline":"S\u2011UBG: Second Closing at EUR 40 million of TechVision Fund&nbsp;I","datePublished":"2020-02-10T23:49:39+00:00","mainEntityOfPage":{"@id":"https:\/\/www.fyb.de\/en\/s-ubg-second-closing-at-eur-40-million-of-techvision-fund-i\/"},"wordCount":289,"commentCount":0,"publisher":{"@id":"https:\/\/www.fyb.de\/en\/#organization"},"image":{"@id":"https:\/\/www.fyb.de\/en\/s-ubg-second-closing-at-eur-40-million-of-techvision-fund-i\/#primaryimage"},"thumbnailUrl":"https:\/\/www.fyb.de\/wp-content\/uploads\/2020\/02\/a-rodin-e1581378545753-1.jpg","articleSection":["General","Featured","News","Venture Capital"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/www.fyb.de\/en\/s-ubg-second-closing-at-eur-40-million-of-techvision-fund-i\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/www.fyb.de\/en\/s-ubg-second-closing-at-eur-40-million-of-techvision-fund-i\/","url":"https:\/\/www.fyb.de\/en\/s-ubg-second-closing-at-eur-40-million-of-techvision-fund-i\/","name":"S-UBG: Second Closing at EUR 40 million of TechVision Fund I - FYB Financial Yearbook","isPartOf":{"@id":"https:\/\/www.fyb.de\/en\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.fyb.de\/en\/s-ubg-second-closing-at-eur-40-million-of-techvision-fund-i\/#primaryimage"},"image":{"@id":"https:\/\/www.fyb.de\/en\/s-ubg-second-closing-at-eur-40-million-of-techvision-fund-i\/#primaryimage"},"thumbnailUrl":"https:\/\/www.fyb.de\/wp-content\/uploads\/2020\/02\/a-rodin-e1581378545753-1.jpg","datePublished":"2020-02-10T23:49:39+00:00","breadcrumb":{"@id":"https:\/\/www.fyb.de\/en\/s-ubg-second-closing-at-eur-40-million-of-techvision-fund-i\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.fyb.de\/en\/s-ubg-second-closing-at-eur-40-million-of-techvision-fund-i\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.fyb.de\/en\/s-ubg-second-closing-at-eur-40-million-of-techvision-fund-i\/#primaryimage","url":"https:\/\/www.fyb.de\/wp-content\/uploads\/2020\/02\/a-rodin-e1581378545753-1.jpg","contentUrl":"https:\/\/www.fyb.de\/wp-content\/uploads\/2020\/02\/a-rodin-e1581378545753-1.jpg","width":1317,"height":1313},{"@type":"BreadcrumbList","@id":"https:\/\/www.fyb.de\/en\/s-ubg-second-closing-at-eur-40-million-of-techvision-fund-i\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.fyb.de\/en\/"},{"@type":"ListItem","position":2,"name":"S\u2011UBG: Second Closing at EUR 40 million of TechVision Fund&nbsp;I"}]},{"@type":"WebSite","@id":"https:\/\/www.fyb.de\/en\/#website","url":"https:\/\/www.fyb.de\/en\/","name":"FYB Financial Yearbook","description":"For Your Business","publisher":{"@id":"https:\/\/www.fyb.de\/en\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.fyb.de\/en\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/www.fyb.de\/en\/#organization","name":"FYB Financial Yearbook","url":"https:\/\/www.fyb.de\/en\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.fyb.de\/en\/#\/schema\/logo\/image\/","url":"https:\/\/www.fyb.de\/wp-content\/uploads\/2020\/06\/logo.svg","contentUrl":"https:\/\/www.fyb.de\/wp-content\/uploads\/2020\/06\/logo.svg","caption":"FYB Financial Yearbook"},"image":{"@id":"https:\/\/www.fyb.de\/en\/#\/schema\/logo\/image\/"}},{"@type":"Person","@id":"https:\/\/www.fyb.de\/en\/#\/schema\/person\/4308b3086925bc8567ceba3ebd69b4ce","name":"Tatjana Anderer","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.fyb.de\/en\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/11708a5289b743e6290bae8e4109e97efec1cb1ae5c7065f0bfc5c36f28c7757?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/11708a5289b743e6290bae8e4109e97efec1cb1ae5c7065f0bfc5c36f28c7757?s=96&d=mm&r=g","caption":"Tatjana Anderer"},"description":"Gr\u00fcnderin des FYB-Verlag","sameAs":["http:\/\/neu.fyb.de"],"url":"https:\/\/www.fyb.de\/en\/author\/tanderer\/"}]}},"_links":{"self":[{"href":"https:\/\/www.fyb.de\/en\/wp-json\/wp\/v2\/posts\/43223","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.fyb.de\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.fyb.de\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.fyb.de\/en\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.fyb.de\/en\/wp-json\/wp\/v2\/comments?post=43223"}],"version-history":[{"count":0,"href":"https:\/\/www.fyb.de\/en\/wp-json\/wp\/v2\/posts\/43223\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.fyb.de\/en\/wp-json\/wp\/v2\/media\/43228"}],"wp:attachment":[{"href":"https:\/\/www.fyb.de\/en\/wp-json\/wp\/v2\/media?parent=43223"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.fyb.de\/en\/wp-json\/wp\/v2\/categories?post=43223"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.fyb.de\/en\/wp-json\/wp\/v2\/tags?post=43223"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}