Democrats Investigate 'Miraculous' Rise of Trump Jr.'s Investment Firm

Democrats on a powerful US congressional committee have initiated an investigation into 1798 Capital, a venture capital firm that has experienced a dramatic surge in success since recruiting Donald Trump Jr. as a partner shortly after his father's second term victory in November 2024.

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Two years ago, 1789 Capital was “a struggling venture capital firm that earned consistently disappointing results by serially investing in total market flops” but has since undergone a “miraculous transformation”.

Congressman Jamie Raskin, the ranking member of the House judiciary committee, has formally requested that Trump Jr. provide details on the firm's recent performance. According to reports, 1798 Capital's assets under management have skyrocketed, growing from an estimated $150 million in 2024 to $1 billion by August, $2.7 billion by year's end, and a reported $3.5 billion by May, as indicated by SEC filings. CNN and The Guardian's review of these filings also revealed that approximately 40% of these assets originate from foreign investors.

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With Don Jr.’s new leadership role, 1789 Capital has developed an uncanny ability to identify companies that are about to receive massive influxes of cash from the Trump administration or to benefit from significant changes in federal policies and regulations.

In a letter addressed to Trump Jr. and the firm's founders, Omeed Malik and Christopher Buskirk, committee Democrats are seeking records related to companies that have received investments from the firm, as well as any communications with US elected or federal government officials by September 9. However, as the minority party, Democrats would require Republican support to exercise subpoena power.

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They say there is no such thing as a sure thing in investing, but this is about as close as you can get.

Raskin described 1798 Capital's transformation as "miraculous," noting that just two years prior, it was a "struggling venture capital firm that earned consistently disappointing results." He asserted that with Trump Jr.'s involvement, the firm has shown an "uncanny ability to identify companies that are about to receive massive influxes of cash from the Trump administration or to benefit from significant changes in federal policies and regulations." Raskin concluded that it is "impossible to believe" the firm's growth is due to anything other than "insider political influence and thoroughgoing corruption."

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it is now impossible to believe that the firm’s “astonishing growth and success are due to anything other than insider political influence and thoroughgoing corruption”.