MSNBC - The list of the Trump administration's flagrant conflicts of interest just got longer: A new Reuters report says a venture fund that has largely flown under the radar has exploded in size since Donald Trump Jr. joined as a partner and Donald Trump was again elected president in 2024.
According to Reuters, 1789 Capital — a reference to the year the Constitution went into effect — was once a "niche experiment that aimed to align equity investing with conservative political values." Last year the fund was managing around $150 million in assets. But after Trump Jr. joined the fund as a partner and Trump was re-elected, its assets have multiplied to over $1 billion.....
Reuters, citing financial records and interviews with people close to the firm, reports that 1789 Capital's portfolio has expanded to include "defense contractors, artificial intelligence AI startups and other companies that ethics experts say could benefit from federal contracts and regulatory changes." Its recent deals include investments in Elon Musk's companies SpaceX, xAI and Neuralink. Reuters notes that the Trump administration’s deregulatory agenda and policy shifts have “benefited at least three companies backed by 1789 Capital. However, Reuters could not determine whether 1789’s investments — or any negotiations preceding them — played a role in those outcomes.”
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