Baker Steel Capital Managers LLP

What they do

Founded in 2001 by former Merrill Lynch portfolio managers Trevor Steel and David Baker, Baker Steel Capital Managers is a leading specialist natural resources asset management firm. The firm is highly regarded in the ecosystem for combining deep technical expertise in geosciences and mining engineering with rigorous financial acumen. They manage several award-winning funds, including the SVS Baker Steel Gold and Precious Metals Fund and the Baker Steel Resources Trust (BSRT), which focuses on unlisted junior mining companies and special situations. Their distinctive edge lies in their bottom-up, value-driven research and their ability to provide flexible capital-including bridge loans and convertible debt-to help junior miners reach production.

What they look for

Baker Steel operates as "stock pickers" rather than pure commodity traders. Their core strategy utilizes value-driven equity analysis, bottom-up investment research, and rigorous ESG analysis to identify undervalued opportunities in the natural resources sector. For their private and unlisted strategy (executed via the Baker Steel Resources Trust), the objective is to achieve long-term capital growth by investing in a concentrated portfolio of 10-20 companies, generating returns by bringing junior mining projects up the development curve and exploiting market inefficiencies.

Stage

Series B+

Sectors

Deeptech, Climate, Other

Based

London, GB