Democrats on a key US congressional committee have initiated an investigation into 1789 Capital, a venture capital firm that has seen remarkable growth since Donald Trump Jr joined as a partner shortly after his father secured a second presidential term in November 2024.

Congressman Jamie Raskin, ranking member of the US House Judiciary Committee, has formally requested that Trump Jr and the firm's founders, Omeed Malik and Christopher Buskirk, provide records by September 9. These records should include details of companies receiving investments from 1789 Capital and any communications with US elected or federal government officials.

According to SEC filings reviewed by The Guardian, 1789 Capital's assets under management surged from approximately $150 million in 2024 to $3.5 billion by May 2026. A significant portion of this capital reportedly originated from foreign investors, as noted by CNN and The Guardian.

Raskin described 1789 Capital two years ago as a "struggling venture capital firm" with poor investment results but said it has since undergone a "miraculous transformation." He added that under Trump Jr’s leadership, the firm appears to have an "uncanny ability to identify companies about to receive massive influxes of cash from the Trump administration or to benefit from significant changes in federal policies and regulations."

In a recent interview with the New York Times, Trump Jr stated he communicates with his father only "every few weeks," does not discuss business with him, and holds "no policy position and no role within the administration whatsoever."

Earlier in August 2026, The Guardian also reported that two individuals with ties to 1789 Capital were appointed to the Defense Policy Board, a Pentagon advisory body.

Sources