Conflicts of Interest Declaration: James Wise

Role

The role of Chair of Sovereign AI is a non-executive advisory role providing strategic advice to the Fund. The Chair has no policy, procurement, investment or other spending related authority. James does not sit on the Sovereign AI Investment Committee and is not sighted or briefed on live investment decisions.

Interests

Upon James' appointment as Chair of Sovereign AI, in accordance with due process, James underwent a full conflicts declaration process. Appropriate mitigations were then put in place with a Statement on Conflicts of Interest agreed between James and the then Permanent Secretary of the Department for Science, Innovation and Technology. This statement can be found in full below.

Since this appointment, James continues to proactively update his relevant Conflicts of Interest as required, and all of James' relevant investments can be found on his LinkedIn and/or via the Balderton website.

Sovereign AI's investment decisions are shared retrospectively with James. At this point he can disclose if he or Balderton have any joint interests in the companies in question.

Statement on Conflicts of Interest

21st November 2025

This statement sets out an agreed approach to manage James Wise's potential conflicts of interest in his role as Chair of the Sovereign AI Unit. It has been agreed by the DSIT Permanent Secretary and James Wise. It sets out an approach to identify, address and mitigate any actual, potential or perceived personal or business interests which may conflict, or may be perceived to conflict, with the Chair's duties.

General protections

1. The agreement clarifies the Chair's responsibilities in relation to mitigating any perceived conflicts, and outlines actions to address potential current and future financial conflicts and wider conflicts of interest.

2. The Chair's role is to act as strategic figurehead for the Unit and will not have any financial decision-making capabilities or advise on individual investments.

3. Where James Wise has investments or similar ties to organisations where financial conversations and investment decisions are being discussed with DSIT, James will not be party to these discussions and will be recused from any such work.

4. James Wise will not share non-public information he gains in the role as Chair with outside interests, including companies in which he has investments. This includes shareholders with whom James shares a financial interest. This does not prevent James from discussing public domain AI, investment or other issues in any context.

5. James Wise and DSIT will have responsibility to identify and address any actual, potential or perceived personal or business interests which may conflict, or may be perceived to conflict, with the Chair's public duties.

Specific protections in relation to Balderton

6. James Wise has undertaken a full declaration of all relevant financial and non-financial interests prior to his appointment.

7. James Wise will notify DSIT as soon as possible if he, or Balderton, are to make any investment in companies which could be perceived to conflict with the duties of his role as Chair.

8. Where DSIT engages with or considers investment into companies within Balderton's investment portfolio, DSIT will engage with James Wise and Balderton to identify and mitigate any perceived conflicts.

9. For any company in which James Wise has a personal investment, or an investment via Balderton, James will not engage in any formal meetings or any other discussions where procurement or other financial conversations may take place.