Donald Trump Jr. is ditching the West Wing for Wall Street—well, the Palm Beach version of it, anyway. He recently made waves by confirming he’s joining 1789 Capital, a venture capital firm that basically wants to build a "parallel economy" for people tired of what they call "woke" corporate culture.
It's a huge pivot. Most people expected him to take a high-level job in his father’s administration, maybe something involving the "Make America Healthy Again" movement or a plum advisory role. Instead, he’s going into the world of private equity and seed rounds. Honestly, it’s a move that says a lot about where the Trump family thinks the real power is heading.
Why Donald Trump Jr. Announces He Is Joining Venture Capital Firm 1789 Capital
So, what is 1789 Capital exactly? The name isn't random. It’s a nod to the year the U.S. Constitution went into effect and the Bill of Rights was proposed. The firm was co-founded by Omeed Malik, a former Bank of America managing director who’s become a massive player in the conservative donor world. Malik, along with partners like Chris Buskirk and Rebekah Mercer, started this fund to back companies that Silicon Valley wouldn't touch.
We’re talking about "patriotic capitalism."
Basically, the idea is to invest in businesses that align with "America First" values. If a company is focused on ESG (Environmental, Social, and Governance) or DEI (Diversity, Equity, and Inclusion), 1789 probably isn't interested. Don Jr. is joining as a partner, and his role is reportedly focused on finding new deals and raising capital. He’s already been out there pitching the fund as a way to "disrupt" the institutional bias on Wall Street.
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The Portfolio: From Rockets to Prediction Markets
Since Don Jr. hopped on board, the firm has been incredibly busy. They aren't just sitting on their hands. They’ve already funneled millions into some pretty high-profile (and sometimes controversial) ventures.
- Polymarket: This is a big one. 1789 Capital reportedly led a massive eight-figure investment into this prediction market. Interestingly, Don Jr. joined their advisory board, even though he was already an advisor for their rival, Kalshi. Kinda messy, right?
- Firehawk Aerospace: They recently led a $60 million Series C for this startup that makes 3D-printed rocket fuel. The goal is to fix the U.S. missile shortage.
- Elon's Universe: The firm has reportedly taken stakes in almost all of Elon Musk’s projects, including SpaceX, Neuralink, and xAI.
- The "Enhanced Games": Ever heard of an Olympics where athletes are encouraged to use performance-enhancing drugs? Yeah, that’s a thing, and 1789 is backing it.
The growth is honestly staggering. According to recent reports, the firm’s assets under management (AUM) jumped from around $150 million to over $1 billion in less than a year. That’s the "Don Jr. Effect" in full swing.
The Conflict of Interest Question
You can't talk about a President’s son running a VC firm without talking about ethics. It's the elephant in the room. Critics—and there are plenty of them—argue that 1789 Capital is a walking conflict of interest.
Think about it. The firm invests in defense contractors like Firehawk or Anduril Industries. Those companies live and die by government contracts. If Don Jr. owns a piece of them while his dad is in the Oval Office, it looks... well, it looks complicated. Richard Painter, who was the ethics lawyer for George W. Bush, has been pretty vocal, saying this kind of setup is exactly what the founders would have hated.
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The firm's response? They say they "maximize transparency" and that Don Jr. has no role in the government. His reps point out he's been a businessman his whole life. They argue he shouldn't have to stop making a living just because of his last name. It’s a debate that’s going to rage as long as the fund exists.
What Most People Get Wrong About the "Parallel Economy"
A lot of folks think this is just a "Trump brand" fund. It's actually bigger than that. 1789 Capital is trying to build an entire ecosystem. They recently opened a private social club in Georgetown called the Executive Branch. It’s basically a hub for MAGA-aligned investors, techies, and politicians to meet and cut deals.
They aren't just looking for "conservative" companies; they are looking for "pro-American" ones. They want to invest in "deglobalization"—bringing manufacturing and tech back to the States. Whether you love the politics or hate them, you can't deny there is a massive market of people who feel alienated by mainstream corporate culture. 1789 is betting a billion dollars that they can monetize that feeling.
Actionable Insights for Investors and Observers
If you're watching this space, there are a few things you should keep in mind about how this shifts the venture landscape:
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- Watch the "Red State" Pensions: Don Jr. and Malik are reportedly eyeing public pension funds in conservative states. If they start getting that institutional money, the fund will explode even further.
- Defense Tech is the New Gold Mine: The shift toward backing "patriotic" defense startups is a major trend. Look for more "dual-use" tech—stuff that works for civilians and the military.
- The Regulatory Play: Keep an eye on the companies 1789 invests in. If they suddenly get favorable rulings from federal agencies, the "conflict of interest" talk is going to get much louder and potentially lead to legal scrutiny.
Don Jr.'s move into venture capital isn't just a side hustle. It’s a calculated attempt to institutionalize the "America First" movement in the heart of the financial world. It’s about more than just money; it’s about influence that lasts long after any election cycle.
The next time you hear about a major defense contract or a new AI startup getting "patriotic" funding, check the cap table. There’s a good chance you’ll see 1789 Capital right at the top.
Next Steps for You
If you want to stay ahead of how this "parallel economy" is developing, you should look into the specific sectors 1789 is targeting next, particularly their interest in digital assets and decentralized finance, which seem to be their next big frontier for 2026.