Former U.K. minister Steve Baker is joining Bitcoin-focused venture capital firm Axiom as an adviser. Here’s what you need to know.
Background on Steve Baker’s Appointment
Former British politician Steve Baker has received approval from the Advisory Committee on Business Appointments to accept a part-time advisory role with Axiom Venture Capital, which invests and advises exclusively in Bitcoin-related projects.
The government’s official document, dated Nov. 28, granted Baker approval after a thorough background check. Baker will be working on Axiom Venture Fund II, one of the important projects in the Bitcoin investment portfolio of the firm. His appointment is, therefore, strictly subject to high ethics to ensure transparency and propriety.
Restrictions Imposed by the ACOBA
In an effort to maintain integrity and prevent conflicts of interest, ACOBA set certain conditions for Baker:
No Disclosure of Government Secrets: Baker cannot reveal any secret information related to his ministerial services. He is not allowed to lobby the U.K. government for Axiom. It should not be more than two continuous years. He cannot advise on issues which he handled as a minister. Any potential conflict of interest should be avoided; he must not use connections from his prior work in government to benefit Axiom.
The advisory committee stressed that the principles outlined in the 7 Principles of Public Life are observed and that selflessness, integrity, accountability, and honesty are maintained.
Baker’s Political Experience
Steve Baker was the minister of state at the Northern Ireland Office from 2022 until 2024. ACOBA assessed that his previous role did not conflict with Axiom’s interests, minimizing the appearance of undue influence or a potential conflict of interest.
Axiom Venture Capital’s Bitcoin Vision
Axiom Venture Capital is a leading Bitcoin-focused advisory and investment management firm. It has no relation to the Ethereum-based data protocol that carries the same name.
Baker will be tasked with advising Axiom’s second venture fund, Axiom Venture Fund II, in driving its investment strategy into Bitcoin.
By joining the private sector, Steve Baker further underlines the growing crossover between traditional governance and the fast-evolving cryptocurrency industry. His appointment reflects both the potential and scrutiny involved when public figures engage with digital finance.
