Since Donald Trump Jr. joined VC agency 1789 Capital after his father received the election, he’s been busy monetizing the Make America Nice Once more (MAGA) ecosystem.
He’s been making bets in media, pharmaceutical, weapons, and crypto whereas pushing in opposition to environmental, social, and governance (ESG) and variety, fairness, and inclusion (DEI), the Financial Times reported.
The VC agency was co-founded by Trump donor Omeed Malik (who can also be a backer of Substack) and has help from Rebekah Mercer, a backer of the conservative information web site Breitbart. Conservative influencer Charlie Kirk, right-wing radio persona Clay Travis, and investor Marc Andreessen have been additionally early backers of 1789, according to Bloomberg.
The 1789 workforce, located lower than two miles from Mar-a-Lago, is immersed in Trump world. To date, the agency led the $15 million seed spherical for Tucker Carlson’s new media firm; has poured greater than $50 million into Elon Musk’s firms xAI and SpaceX; invested in a beverage firm based by right-wing YouTubers the Nelk Boys, and backed the prediction web site Polymarket, in line with Bloomberg.
The agency is reportedly on the lookout for firms to amass, beneath the expectation that President Trump will loosen up some monetary regulatory guidelines, a supply advised Bloomberg.
General, 1789 raised $500 million alone after Inauguration Day and is hoping to lift not less than $1 billion for its first fund by the center of this 12 months, particularly from endowments and pensions in Republican states.
Elsewhere, in line with Bloomberg and the Monetary Occasions, Trump Jr. is on the board of three publicly traded firms, together with a drone producer, a conservative market, and a fintech. He’s on the board of BlinkRX, a 1789 portfolio firm that does drug deliveries. He’s an adviser to the firearm retailer GrabAGun, which Malik stated he and Trump Jr. have been seeking to take public this 12 months. He’s an adviser to a different prediction market firm, Kalshi, and alongside his brother Eric, he’s an investor within the biotech firm Dominari Holdings.
He’s additionally, in fact, the only trustee of Trump Media & Know-how Group, the mother or father firm of Fact Social.
Many have been stunned that Trump Jr. determined to go deeper into the startup and funding world after his father grew to become president once more, Bloomberg reported, however the transfer has since turn into one other indication of the deepening financial and social ties between the facility gamers in Silicon Valley and on Capitol Hill.