Deal Wrap: Affiliated Managers Group acquires Suma stake; Brinc buys Callmi

Deal Wrap is updated as of 3 p.m. ET.

– Affiliated Managers Group Inc. purchased a minority stake in Suma Capital SGEIC SA, a pan-European private investment firm that has about $800 million in assets under management and focuses on the transition to a lower carbon economy. Suma's partners will maintain significant majority equity ownership.

– Brinc added Callmi, a mentorship platform focused on the Middle East and North Africa, to its portfolio.

– Bank of America Corp. made an equity investment in Angeles Investors Inc.'s Angeles Ventures fund, a seed-stage venture capital fund that invests in technology-enabled business-to-business and business-to-consumer startups across the US.

– Singapore-based Pencils Protocol, a next-generation decentralized platform that provides auction services for blockchain-native assets and real-world assets, received investment from OKX Ventures. OKX Ventures is the investment arm of OKX, a cryptocurrency exchange and Web3 technology company.

– EnerTech Capital, a venture capital firm that invests in the mobility space, secured a $10 million investment from Allison Ventures. Allison Ventures is the venture capital arm of Allison Transmission Holdings Inc., which provides propulsion solutions for commercial and defense vehicles.

– Aramco Ventures made an equity investment in climate technology company Spiritus Technologies PBC in November 2023. Spiritus disclosed the investment May 17, the same day it signed a memorandum of understanding with Aramco to explore further collaboration, including advancing Spiritus' direct-air-capture technology and localizing the New Mexico-based company's supply chain in Saudi Arabia.

For more private equity deals, read our latest In Play report, which looks at potential private equity-backed M&A, including rumored transactions, each week.