Ronald (Ron) Bauer is a Canadian-British investor and entrepreneur with a background in

private equity Private equity (PE) is stock in a private company that does not offer stock to the general public; instead it is offered to specialized investment funds and limited partnerships that take an active role in the management and structuring of the co ...

oil An oil is any nonpolar chemical substance that is composed primarily of hydrocarbons and is hydrophobic (does not mix with water) and lipophilic (mixes with other oils). Oils are usually flammable and surface active. Most oils are unsaturate ...

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. In 2022, Bauer was accused of "the most complex

microcap stock fraud Microcap stock fraud is a form of securities fraud involving stocks of "microcap stock, microcap" companies, generally defined in the United States as those with a market capitalization of under $250 million. Its prevalence has been estimate ...

" ever.

Early life and education

Bauer was born in 1975. He holds dual Canadian and British citizenship. Bauer earned a

Master of Business Administration A Master of Business Administration (MBA) is a professional degree focused on business administration. The core courses in an MBA program cover various areas of business administration; elective courses may allow further study in a particular ...

(MBA) from the

University of Cambridge The University of Cambridge is a Public university, public collegiate university, collegiate research university in Cambridge, England. Founded in 1209, the University of Cambridge is the List of oldest universities in continuous operation, wo ...

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 Tullow Oil plc is a multinational oil and gas exploration company founded in Tullow, Ireland, with its headquarters in London, United Kingdom. The company is listed on the London Stock Exchange. History The company was founded by Aidan Hea ...

, and Africa Oil. With

Atari Atari () is a brand name that has been owned by several entities since its inception in 1972. It is currently owned by French holding company Atari SA (formerly Infogrames) and its focus is on "video games, consumer hardware, licensing and bl ...

founder

Nolan Bushnell Nolan Kay Bushnell (born February 5, 1943) is an American businessman and electrical engineer. He established Atari, Inc. and the Chuck E. Cheese's Pizza Time Theatre chain. He has been inducted into the Video Game Hall of Fame and the Consu ...

, 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 The United Kingdom of Great Britain and Northern Ireland, commonly known as the United Kingdom (UK) or Britain, is a country in Northwestern Europe, off the coast of European mainland, the continental mainland. It comprises England, Scotlan ...

'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 The United States Securities and Exchange Commission (SEC) is an independent agency of the United States federal government, created in the aftermath of the Wall Street crash of 1929. Its primary purpose is to enforce laws against market m ...

(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 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 by orchestrating "match trades" and generating artificial market interest. In May 2025, Bauer was sentenced to 20 months in

federal prison A federal prison is operated under the jurisdiction of a federal government as opposed to a state or provincial body. Federal prisons are used for people who violated federal law (U.S., Mexico), people considered dangerous (Brazil), or those sen ...

and 24 months of supervised release for his role in the scheme.

References

{{DEFAULTSORT:Bauer, Ronald Living people People convicted of fraud 1975 births Canadian criminals Canadian fraudsters 21st-century Canadian businesspeople