Key Takeaways
- • 1789 Capital surged from $150 million to over $1 billion in assets within one year, following Donald Trump's November 2024 election victory and the addition of Donald Trump Jr. as a partner that same month.
- • The fund's portfolio now includes stakes in three Elon Musk companies—SpaceX, xAI, and Neuralink—along with defense contractors (Anduril Industries, Firehawk Aerospace, Hadrian), AI startups, and other firms positioned to benefit from federal contracts and regulatory shifts.
- • 1789 Capital was founded as a partnership between Omeed Malik, a former New York investment banker, and Christopher Buskirk, an Arizona businessman and confidant of Peter Thiel and Vice President JD Vance, before Trump Jr.'s arrival elevated its political access and capital inflows.
- • Companies backed by 1789 Capital have already secured $735 million in government contracts from the Trump administration within the first year of Trump's presidency, raising questions about potential conflicts of interest, though the fund denies receiving preferential treatment from Trump Jr.'s role.
- • The firm's investment strategy explicitly targets alignment with conservative political values and emerging technology sectors, positioning it to capitalize on policy shifts in defense, AI regulation, and federal procurement.
Summary
1789 Capital, a venture fund with Trump family ties, has crossed the $1 billion assets milestone in the months following Donald Trump's return to the White House. The fund's explosive growth—from $150 million one year ago to over $1 billion today—accelerated dramatically following two catalysts: Trump's election victory in November 2024 and the arrival of his eldest son, Donald Trump Jr., as a partner that same month.
The firm originated as a niche investment vehicle designed to align equity investing with conservative political values. It was founded through a partnership between Omeed Malik, a former investment banker based in New York, and Christopher Buskirk, an Arizona businessman who cultivated close relationships with conservative technology billionaire Peter Thiel and now-Vice President JD Vance. The addition of Trump Jr. transformed the fund's profile and capital access, drawing a flood of new investment commitments and positioning the firm at the intersection of venture capital and political influence.
1789 Capital's portfolio reflects an aggressive expansion into sectors positioned to benefit from federal policy. Recent investments include stakes in three companies affiliated with Elon Musk: SpaceX, the artificial intelligence startup xAI, and brain-implant company Neuralink. The SpaceX and xAI investments materialized after founder Omeed Malik met Musk during the Trump campaign. Beyond Musk's ecosystem, 1789 Capital holds positions in defense contractors including Anduril Industries, Firehawk Aerospace, and Hadrian, alongside digital pharmacy BlinkRX, spaceflight company Axiom Space, and the Enhanced Games. Ethics experts have flagged concerns that these portfolio companies could benefit materially from federal contracts and regulatory changes under the current administration.
Government contract awards to 1789 Capital-backed companies totaled $735 million within the first year of Trump's presidency, underscoring the fund's rapid access to federal procurement opportunities. The fund explicitly denies that Trump Jr.'s partnership provides preferential treatment or regulatory advantages, though the timing and scale of both capital inflows and government awards have drawn scrutiny from transparency advocates. As 1789 Capital executes its stated goal of becoming "a large, multi-strategy asset manager," its expansion illustrates how proximity to executive power can rapidly reshape venture capital dynamics and portfolio positioning.
The firm originated as a niche investment vehicle designed to align equity investing with conservative political values. It was founded through a partnership between Omeed Malik, a former investment banker based in New York, and Christopher Buskirk, an Arizona businessman who cultivated close relationships with conservative technology billionaire Peter Thiel and now-Vice President JD Vance. The addition of Trump Jr. transformed the fund's profile and capital access, drawing a flood of new investment commitments and positioning the firm at the intersection of venture capital and political influence.
1789 Capital's portfolio reflects an aggressive expansion into sectors positioned to benefit from federal policy. Recent investments include stakes in three companies affiliated with Elon Musk: SpaceX, the artificial intelligence startup xAI, and brain-implant company Neuralink. The SpaceX and xAI investments materialized after founder Omeed Malik met Musk during the Trump campaign. Beyond Musk's ecosystem, 1789 Capital holds positions in defense contractors including Anduril Industries, Firehawk Aerospace, and Hadrian, alongside digital pharmacy BlinkRX, spaceflight company Axiom Space, and the Enhanced Games. Ethics experts have flagged concerns that these portfolio companies could benefit materially from federal contracts and regulatory changes under the current administration.
Government contract awards to 1789 Capital-backed companies totaled $735 million within the first year of Trump's presidency, underscoring the fund's rapid access to federal procurement opportunities. The fund explicitly denies that Trump Jr.'s partnership provides preferential treatment or regulatory advantages, though the timing and scale of both capital inflows and government awards have drawn scrutiny from transparency advocates. As 1789 Capital executes its stated goal of becoming "a large, multi-strategy asset manager," its expansion illustrates how proximity to executive power can rapidly reshape venture capital dynamics and portfolio positioning.
Go deeper than the headline
Research every firm in this story, track the ones that matter and get the daily briefing — free for 7 days.