Democrats to investigate ‘miraculous’ rise of Trump Jr’s investment firm
Congressman Jamie Raskin asks president’s son to detail firm’s recent success after he joined 1789 Capital as partner Democrats on a powerful US congressional committee have launched an investigation into a venture capital firm which has thrived since recruiting Donald Trump’s son. Donald Trump Jr joined 1789 Capital as a partner just days after his father won a second term in office in November…
Congressman Jamie Raskin of the US House Judiciary Committee has launched an investigation into 1789 Capital, a venture capital firm founded by Donald Trump Jr. The inquiry follows the firm's sudden rise in assets under management following Trump Jr's partnership with the company just days after his father's re-election in November 2024. According to SEC filings, assets under management grew from $150 million in 2024 to $3.5 billion by May, with 40% coming from foreign investors.
Raskin asked Trump Jr. and the firm's founders, Omeed Malik and Christopher Buskirk, to provide records detailing investments and communications with US elected officials or federal government officials by September 9. The congressman also alleged that the firm's growth is due to "insider political influence and thoroughgoing corruption."
While 1789 Capital denies the allegations, counsel AJ Merton called the claims "unsubstantiated talking points" and described the Democrats' investigation as a "partisan stunt and politically motivated harassment."
Raskin pointed to several recent investments, including millions invested in Vulcan Elements, a rare earth company, and Pentagon loans and grants provided to the company. He also referenced Trump's comments about his children having "inside information" due to their business dealings, though Trump Jr. claimed he has no policy position or role in the administration.
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