Trump-family-backed 1789 Capital Surpasses $1 Billion as It Expands Investments

A little-known investment firm with ties to the Trump family has quietly grown to more than $1 billion in assets, drawing attention from ethics experts concerned about its rapid expansion and proximity to the White House.

1789 Capital, based in Palm Beach, Florida, lists eight employees on its website and added Donald Trump Jr. as a partner in November 2024, according to the company and media reports. Reuters reported that the firm — co-founded by Omeed Malik, a prominent donor to President Trump’s 2024 campaign — has increased its deal size since the election and routinely deployed between $5 million and $50 million on a string of high-profile investments.

Company representatives and public filings show 1789 was for years a niche investor focused on businesses aligned with conservative values, with earlier stakes in Substack, the media enterprise of Tucker Carlson, and several early-stage technology and pharmaceutical companies. Since late 2024, the firm has broadened its portfolio to include AI startups, defense contractors with potential U.S. government customers, and consumer-facing companies. Reuters reported investments in platforms such as prediction market Polymarket and participation in the flotation of companies including GrabAGun, where representatives from 1789 assisted in ringing the market-opening bell on the stock’s first trading day.

Malik has described the fund’s strategy as a reaction to what he and others see as the politicization of corporate America. In an interview with Bloomberg, he said the firm promotes what he calls "EIG" — entrepreneurship, innovation and growth — as an alternative to environmental, social and governance-focused investing. "We felt that the private sector was actually becoming quite politicized," Malik told Bloomberg. "People and customers want to shop their values in some respects. Politics has entered into the boardroom, and that's undeniable. We'd like the other half of the country to have a seat at that table."

The company’s recent deals, as reported by media outlets, include stakes in technology firms linked to Elon Musk, such as SpaceX, xAI and Neuralink, and in consumer brands including Juul Labs. The firm has also invested in an exclusive Washington, D.C., private club called Executive Branch, which Reuters said offers memberships that start at $500,000. The breadth of 1789’s investments has raised questions about how those holdings might intersect with government business and influence.

Ethics experts and former government lawyers said those financial ties warrant scrutiny. Richard Painter, who served as a White House ethics lawyer during the George W. Bush administration, said on social media that the firm’s name — a reference to the year the U.S. Constitution took effect — makes the alignment between political symbolism and private investment "ironic." He added, "I don't think the founders would have tolerated this in 1789," while urging transparency to avoid conflicts of interest.

Representatives for the White House, 1789 Capital and Don Trump Jr. have denied any wrongdoing, according to media reports. The company did not respond to requests for additional comment. 1789’s public materials emphasize its market-oriented investment thesis and portray its growth as a market response to investor demand.

The firm’s ascent underscores a broader industry debate over the role of politics in investment choices. ESG-focused strategies, once a major growth area for institutional investors, peaked in influence in 2022, according to industry tallies. 1789’s founders and backers have positioned their fund as a counterweight to that trend, while critics say the close personal and political connections between the firm’s partners and the White House increase the potential for perceived or actual conflicts.

Regulatory experts say that questions about conflicts of interest typically hinge on disclosure, recusal practices and whether government contracting or policy decisions benefit entities with direct financial ties to senior officials or their families. At present, public reporting on 1789 Capital’s holdings and the timing of certain investments has sparked media scrutiny but no formal regulatory action made public.

As 1789 Capital continues to deploy capital across technology, defense and consumer sectors, the firm’s expansion will likely attract closer attention from journalists, watchdogs and potentially regulators seeking to determine whether any of its investments intersect with government business or policy decisions.

The firm’s growth from a small, ideologically aligned investor to a vehicle with more than $1 billion in assets over a period of months illustrates how political alignment and market activity can combine to reshape a firm’s profile on Wall Street. 1789’s leaders say that expansion reflects investor demand for alternatives to ESG and a belief that the market should accommodate a broader range of values and priorities.