House Democrats Opened an Investigation Into Donald Trump Jr.'s Venture Capital Firm, 1789 Capital — Which Ballooned From a Few Million Dollars to Roughly $3 Billion After He Joined It Just as His Father Retook the White House — Because Its Bets on Startups That Then Won Federal Loans, Contracts, and Favorable Rulings Were Timed, in Rep. Raskin's Words, With "Almost Clairvoyant Accuracy"
In a story first reported by MS NOW, House Judiciary Committee ranking member Jamie Raskin has opened an investigation into Donald Trump Jr. and 1789 Capital, the venture capital firm he joined shortly after his father returned to the White House in January 2025. The question Raskin is pressing is straightforward: has the firm's remarkable success been powered by access to the Trump administration? The numbers are eye-catching. 1789 Capital was reportedly worth only a few million dollars when Trump Jr. came aboard; it is now valued at roughly $3 billion. Raskin's letter points to a run of investments timed with "almost clairvoyant accuracy" — portfolio companies including Vulcan Elements, Anduril, Juul Labs, and Polymarket that subsequently benefited from federal funding, contracts, or regulatory decisions. The starkest example: 1789 took an undisclosed stake in the rare-earth startup Vulcan Elements in 2025 — when it was valued around $200 million — roughly three months before the Pentagon announced a $620 million loan to the company. Two crucial caveats: no wrongdoing has been proven, and 1789's counsel dismisses the allegations as "unsubstantiated talking points" and "repackaging press clippings on congressional letterhead." And because Democrats are in the House minority, Raskin cannot compel a single document or witness — Republicans already blocked a related subpoena in March. This is a demand letter and a preview of the oversight Democrats promise if they win the House in November, not an empowered probe. But the pattern it lays out — the president's son growing a fortune a thousandfold on bets that keep coinciding with his father's government writing checks — is the kind of thing that, in a normal administration, would not need a minority letter to trigger scrutiny.