Question to the Department for Science, Innovation & Technology:

To ask the Secretary of State for Science, Innovation and Technology, what assessment has been made of potential conflicts of interest in relation to the proposed appointment of Suzanne Ashman to lead the Sovereign AI Fund, including her previous roles in venture capital and her personal connections, and what mitigation measures are being put in place.

The Managing Partner of the Sovereign AI Fund has been appointed following a three-month, competitive, five-stage recruitment process involving over 60 candidates. The individual was judged to be the strongest candidate on merit against the skills and experience required. This is a Civil Service appointment. Ministers were not involved in the recruitment process and had no decision-making authority over the outcome.

Ministers will set the Fund’s mission, budget and risk appetite, and are accountable to Parliament for the Fund. Investments by the Sovereign AI Fund will be delivered through DSIT’s existing Government-owned company, British Technology Investments (BTI) Ltd and its governance structures. The Sovereign AI Investment Committee, chaired by the Managing Partner, will have delegated authority from the BTI Board to make individual investment and funding decisions to a set limit. The Sovereign AI Investment Committee will report monthly to the British Technology Investments Limited board on investment decisions and wider portfolio performance, and to the Sovereign AI Strategy Board which provides strategic oversight of the whole programme.

As is standard practice, the Managing Partner is recused from decisions which may cross with any real or perceived conflicts in relation to personal or financial interests. These mitigations were discussed in detail and agreed with the DSIT Permanent Secretary.