Full Breakdown
Allegations of Insider Influence in 1789 Capital’s Post-Election Surge
8/28/2026, 12:55:59 AM
Core Allegations
House Judiciary Committee Ranking Member Jamie Raskin (D-Md.) sent a letter to Donald Trump Jr., partner at 1789 Capital Management, and to firm executives Omeed Malik and Christopher Buskirk. “Based on his own personal business resume, Don Jr. may have been an unlikely choice to originate investments for an upstart venture capital company. His rare solo ventures—outside the paternal eye of the Trump Organization—have been well-documented flops, including investing in dry oil wells, hydroponic lettuce farms, and an African mining company,” — Ranking Member Jamie Raskin
Background
Two years prior, 1789 Capital was described as a “struggling venture capital firm” with a record of “disappointing results” and investments in “total market flops.” After Donald Trump Jr. joined the firm four days after the election, the firm’s portfolio began securing large federal contracts and regulatory advantages, according to Raskin’s letter.
Data Illustrating Portfolio Success
- Assets under management increased from $150 million to $3 billion.
- Vulcan Elements received nine government contracts within eight months after a multi-million-dollar investment.
- Anduril Industries obtained a $22 billion contract shortly after Trump’s inauguration, followed by a $20 billion U.S. Army contract in March.
- 1789 Capital acquired a $5 million stake in Juul, after which the FDA halted a proposed ban on the company’s products.
- The firm took a “sizable stake” in Polymarket after the Department of Justice closed a related probe and the CFTC approved its market entry.
Official Statements & Responses
President Donald Trump reportedly said his oldest sons have “inside information” with “almost anything they do.”
