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Congratulations to portfolio company Sigma Ratings on the announcement of the new investment, which will be used to accelerate Sigma's growth and strengthen its position as the category-creator of scalable entity risk scoring. Sigma also plans to develop and expand its distribution through Fitch's operations in more than 30 countries.
Shea Wallon, Managing Director, Fitch Ventures, said: "An increased focus from market participants on the risks related to financial crime and governance underpins Fitch's decision to invest in Sigma, as well as to pursue joint work and research between Fitch Ratings and Sigma. Non-financial risks such as governance and financial crime are becoming more relevant to Fitch's bank credit ratings. Sigma impressed us with their combination of technology and domain expertise in this area. We believe their technology solution will directly benefit Fitch, as well as the investors who use its ratings and research."
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