Steve Baker, the former U.K. minister, has been approved to take on a role as a part-time adviser for Bitcoin-focused venture capital firm Axiom.

Approval from Advisory Committee

Strict conditions set for Baker’s new role
The Advisory Committee on Business Appointments (ACOBA) granted Baker permission to join Axiom Venture Capital, subject to strict guidelines. These include prohibiting him from sharing confidential government information or leveraging his ministerial experience to benefit the firm.

Baker’s Background and Role at Axiom

Transitioning from public service to private advisory
Baker served as Minister of State for Northern Ireland from 2022 to 2024. Following a thorough review, ACOBA determined that his past government work presented no conflicts of interest with Axiom. However, he is restricted from lobbying the U.K. government or advising on areas he managed as a minister for the next two years.

Upholding the Principles of Public Life

Mitigating risks of influence and propriety
The committee emphasized Baker’s responsibility to uphold the 7 Principles of Public Life, which include integrity, accountability, and leadership. Measures were recommended to avoid any misuse of contacts or unfair advantages arising from his previous role in government.

Axiom Venture Capital: Focus on Bitcoin

Driving innovation in cryptocurrency investments
Axiom Venture Capital is renowned for its focus on Bitcoin advisory and investment management. Baker’s expertise will support its second venture fund, Axiom Venture Fund II. Notably, the firm is not affiliated with the Ethereum protocol Axiom, despite the shared name.

Strategic Move for Axiom and Baker

Strengthening Bitcoin-focused initiatives
Baker’s appointment reflects Axiom’s commitment to leveraging diverse expertise to drive innovation in the crypto sector. As the firm expands its influence, his role could bring valuable insights while adhering to ethical and regulatory standards.