# Ronald Bauer

Ronald (Ron) Bauer is a Canadian-British investor and entrepreneur with a background in private equity, oil and gas, and venture capital.
He has been involved in founding and managing several companies, including Turkana Energy, which later became part of Africa Oil, and Black Sheep Ventures Ltd., a private equity firm co-founded with Atari founder Nolan Bushnell. He has been a principal and founding investor in public companies including 180 Life Sciences, Pasithea Therapeutics, Stran & Co., Carmell Therapeutics, Trio Petroleum, Genflow Biosciences, Hemogenyx Pharmaceuticals, Nevada Lithium, and Cognetivity Neurosciences.
Bauer currently manages Theseus Capital Ltd, a family office investment company.
His career has also included legal challenges, including being accused of "the most complex microcap stock fraud" ever.

## Early Life & Education

Bauer was born in 1975. He holds dual Canadian and British citizenship.
Bauer earned a Master of Business Administration (MBA) from the University of Cambridge.

## Career

In 2009, Bauer co-founded Turkana Energy, which merged with Africa Oil (TSX: AOI) in July 2009. The company reached a peak valuation of over $3 billion CAD, attracting more than $1 billion CAD in equity investment after Tullow Oil’s successful drilling of Turkana’s Block 10BB oil concession. The project later received over $2 billion CAD in investment and is currently operated by Total, Tullow Oil, and Africa Oil.
With Atari founder Nolan Bushnell, Bauer co-founded Black Sheep Ventures Ltd, a private equity firm that operated from 2016 to 2022.
Bauer is the founder and managing partner of Theseus Capital Ltd, a family office investment company.

## Philanthropy

Bauer has been active with various justice-impacted philanthropic efforts, using his experience to assist entrepreneurs who have been through the criminal justice system.
In London, he is a volunteer at Enterprise Exchange, an organization that helps the incarcerated and ex-offenders prepare for life after prison, and he participated in the United Kingdom's National Interview Month where he helped high school students prepare for their first job interviews, apprenticeships, and university applications. In New York, Bauer works with Victor Lombard's company Solvent, which works to improve financial literacy and opportunities for justice-impacted individuals.

## Legal Challenges

In March 2005, the U.S. Securities and Exchange Commission (SEC) filed charges against Bauer, accusing him of issuing false and misleading press releases to inflate the stock price of The Bauer Partnership Inc. Without admitting or denying the allegations, Bauer consented to a judgment.
In April 2022, Bauer was among ten individuals charged in a global “pump-and-dump” stock manipulation scheme. The scheme involved inflating the stock prices of multiple U.S.-based companies and then selling off large positions at the inflated prices. These schemes, allegedly perpetuated with David Sidoo, generated approximate gains of US$145 million.
Bauer was detained in the United Kingdom, then released on bond while contesting an extradition request by the United States Department of Justice. He waived his extradition rights and in November 2024, plead guilty to one count of conspiracy to commit securities fraud in connection with his role in the stock manipulation scheme. Other initial charges were dropped.