Fundraising FoxBPM Capital 2 OÜ
Venture debtTallinn · Growth · 5 people tracked
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Investment thesis
BPM provides mezzanine financing to established small and medium-sized enterprises and lower midcap companies with strong track records and experienced management teams in Estonia, Latvia, Lithuania and Poland. It backs buy-outs, growth capital and capital restructuring transactions, but does not invest in start-ups, turnaround situations, listed companies or real estate. As a purely financial investor, BPM does not take an active management role in portfolio companies but monitors their financial performance. Its mezzanine loans typically combine cash interest, payment-in-kind interest and an equity kicker, letting entrepreneurs retain control and limit dilution. The firm has no sector focus but excludes tobacco, alcohol, firearms and gambling, and emphasizes responsible, ESG-aware investing.
Source: firm website, verified Nov 1, 2026.
Team · 5 people
from the firm's websiteKalmer has over 22 years of experience in underwriting senior debt, equity and mezzanine financing, as well as raising follow-up equity and senior debt for MBO projects. He has held executive roles at Baltic Mezzanine, Hanseatic Capital and BalAEF, and holds a BA in Economics from the Estonian University of Life Sciences and an MBA from Henley Management College.
Martin Reinson joined BPM from Baltic Mezzanine (an affiliate of Nordic Mezzanine funds), where from 2006 he evaluated investment opportunities in the Baltic markets and worked on sponsored buyout projects. Earlier he worked at Hansapank Estonia as a project manager and at Ernst & Young Baltic in corporate finance consulting. He holds a bachelor's degree in Economics and Business Administration from the Stockholm School of Economics in Riga and is a CFA charterholder.
What they invest in
from 3 of 4 portfolio companiesAdvanced Manufacturing ×2Construction Tech ×1Consumer ×1E-commerce ×1New Materials ×1Sports Tech ×1
HQs:Estonia×1France×1Poland×1
Investments · 4 tracked
founders shown can be your intro pathEskaro manufactures paints, primers, putties, lacquers, oils, waxes, and adhesives for both interior and exterior applications.
Advanced ManufacturingConstruction TechNew Materials
Tahe Outdoors manufactures water sports equipment — including stand-up paddleboards, kayaks, windsurf, surf, wingfoil, and sailing gear — produced in France using thermoforming, extrusion, PSE molding, and injection processes.
Advanced ManufacturingConsumerSports Tech
Other
Tracked investments with no reachable website or further public details — typically companies that wound down, renamed, or were absorbed.
Clarpac
Frequently asked questions
- What stage does BPM Capital 2 OÜ invest at?
- BPM Capital 2 OÜ invests at the Growth stage.
- What sectors does BPM Capital 2 OÜ focus on?
- BPM Capital 2 OÜ focuses on Sector Agnostic.
- Where is BPM Capital 2 OÜ located?
- BPM Capital 2 OÜ is headquartered in Tallinn, EE.
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