1789 Capital, the Palm Beach-based venture capital firm co-founded by Omeed Malik and Chris Buskirk and recently joined by Donald Trump Jr, has passed $1bn in assets under management, according to a report by Reuters citing unnamed people familiar with the firm’s fundraising and deal activity.
Originally launched in 2023 with a “patriotic capitalism” thesis aimed at backing companies aligned with conservative values, 1789 Capital has rapidly scaled over the past 12 months. The firm managed just $150m a year ago but has since drawn in significant new capital commitments on the back of Donald Trump’s return to the White House and a growing network of high-profile co-investors.
The firm’s investment portfolio has expanded into sectors with strong government tailwinds, including defence manufacturing, artificial intelligence, and digital assets. Recent disclosed investments include SpaceX, Neuralink, Perplexity AI and Juul Labs, with deal sizes typically ranging from $5m to $50m. The firm has also taken positions in earlier-stage ventures such as Hadrian, a defence-focused manufacturing startup.
Industry sources say 1789 Capital has been successful in attracting both US and international LPs, including interest from sovereign wealth funds in what the firm describes as “pro-American” jurisdictions. While the fund markets itself as a values-driven alternative to ESG-oriented strategies, its scale-up to $1bn puts it in the league of more established mid-market growth equity platforms.
The firm is positioning itself as a nexus for private capital within the Trump-aligned business ecosystem, opening a members’ club in Washington DC, to facilitate deal flow and networking among investors, entrepreneurs and political allies.
