House Democrats seek records on Trump Jr.-linked investment firm

Democrats on the US House Judiciary Committee have opened an inquiry into 1789 Capital, the venture-capital firm that Donald Trump Jr. joined shortly after his father won the November 2024 presidential election.

Representative Jamie Raskin, the committee’s ranking Democrat, asked Trump Jr. and firm founders Omeed Malik and Christopher Buskirk to provide records by September 9, 2026. The request covers companies receiving investments from the firm and communications with elected officials or federal officials.

The inquiry follows a sharp increase in the firm’s reported assets under management. According to Securities and Exchange Commission filings cited by The Guardian, the total rose from a reported $150 million in 2024 to $2.7 billion at the end of 2025 and about $3.5 billion by May 2026. The report said overseas investors accounted for 40 percent of the assets.

Raskin alleged that the firm may have benefited from political influence, pointing to investments in businesses that later received government support or contracts. One example cited in his letter was rare-earth manufacturer Vulcan Elements, which received a $620 million Pentagon loan and a $50 million Commerce Department grant after an investment by 1789 Capital.

The request is an investigation by committee Democrats, not a finding of wrongdoing. Because Democrats are in the minority, they have limited power to compel documents without Republican support.

AJ Merton, counsel for 1789 Capital, rejected the allegations as unsubstantiated and politically motivated. Trump Jr. has previously said he has no administration role, speaks with the president only every few weeks and does not discuss business with him.