Originally published on: November 28, 2024
Axiom, a Bitcoin-native venture capital firm, has enlisted the expertise of former UK minister John Baker to join its advisory committee. This decision comes after a thorough background assessment and approval from the Advisory Committee on Business Appointments (ACOBA).
John Baker, who previously served as the Minister of State at the Northern Ireland Office, will now take on a paid advisory role at Axiom. The ACOBA has emphasized the importance of following the “7 Principles of Public Life,” including selflessness, integrity, and honesty.
Axiom Venture Capital specializes in advising and investing in the Bitcoin ecosystem. Baker will be joining as a part-time adviser for the firm’s second venture fund, Axiom Venture Fund II, which aims to raise $75 million.
While acknowledging certain risks associated with former ministers entering the crypto sector, the committee has laid down strict conditions for Baker to mitigate any potential conflicts of interest. These include refraining from using government secrets to benefit Axiom and avoiding lobbying the UK government on behalf of the firm for two years.
By welcoming John Baker on board, Axiom is reinforcing its commitment to making prudent investments in Bitcoin companies and navigating the evolving landscape of digital assets.
For more insightful articles on cryptocurrency and investment opportunities, subscribe to our Markets Outlook newsletter. Stay informed, mitigate risks, and refine your trading strategies every Monday. Join us as we explore the world of blockchain technology and its impact on the financial sector.