Eco · Climate policy · published 2026-08-27 · via The Guardian

House Democrats Demand Records from Trump Jr.'s Venture Firm

House Democrats are investigating the rapid growth of 1789 Capital, a venture firm that added Donald Trump Jr as a partner after the 2024 election. The firm's assets under management reportedly increased from $150m to $3.5bn, with 40% from overseas investors. Lawmakers have requested records from the firm and its founders by 9 September.

Expanded Detail

The inquiry targets 1789 Capital's trajectory after Donald Trump Jr became a partner in November 2024. SEC filings show assets under management climbing from $150m to $3.5bn by May, with roughly 40% originating from overseas investors. Raskin's letter specifically cites investments in Vulcan Elements, which secured a $620m Pentagon loan and a $50m Commerce Department grant under the Chips and Science Act following the firm's involvement.

The firm's counsel, AJ Merton, dismissed the allegations as partisan harassment, arguing that press coverage does not constitute evidence. Democrats acknowledge limited investigative power without Republican support for subpoenas. The requested records — covering investment recipients and communications with federal officials — carry a 9 September deadline.

Context

This investigation could shape public perceptions of whether political connections

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