Former U.K. minister Steve Baker has been approved to join Axiom Venture Capital as an advisor. The Advisory Committee on Business Appointments granted Baker permission to take on a paid advisory role at the Bitcoin-focused venture capital firm after a thorough background check. Baker, who previously served as the minister of state at the Northern Ireland Office from 2022 to 2024, sought approval before officially joining Axiom.
The government document issued on Nov. 28 outlined specific conditions that Baker must adhere to in his new role. These conditions include not sharing any government secrets or information from his time as a minister that could benefit Axiom. The Advisory Board emphasized that former ministers like Baker are expected to maintain the highest standards of propriety and follow the 7 Principles of Public Life, which include selflessness, integrity, objectivity, accountability, openness, honesty, and leadership.
Despite not finding any prior engagements that could benefit Axiom or compromise the government’s integrity during Baker’s tenure as minister, the committee highlighted potential risks associated with his new role. These risks include the misuse of his government contacts and influence to provide unfair access or influence to Axiom. To mitigate these risks, Baker is prohibited from lobbying the U.K. government on behalf of Axiom for a period of two years. Additionally, he cannot advise Axiom on areas he oversaw as a minister or use his government contacts for the firm.
In a social media post, Baker announced his new role as a part-time advisor for Axiom Venture Capital’s second venture fund, Axiom Venture Fund II. It is important to note that Axiom Venture Capital is an advisory and investment management firm that focuses on Bitcoin investments and is not affiliated with the Ethereum data protocol Axiom.
Former U.K. minister Steve Baker’s appointment to Axiom Venture Capital as an advisor has been approved by the Advisory Committee on Business Appointments. This decision comes after a thorough background assessment and adherence to specific conditions outlined in a government document. As Baker takes on this new role, he is expected to uphold the highest standards of propriety and avoid any actions that could compromise the integrity of the government or provide unfair advantages to Axiom.
