Donald Trump Jr.-linked venture capital firm 1789 Capital is rapidly emerging as a major force in US private markets, positioning itself around what it calls “patriotic capitalism” and investing heavily in artificial intelligence, defense technology and American-focused businesses.
The firm’s assets under management have surged from about $200 million to $3.5 billion over the past year as it pursued aggressive investments in some of the sought-after AI companies, according to a report by the Financial Times.
The expansion highlights how politically connected investors tied to President and his allies are increasingly shaping parts of the American investment landscape.
What is 1789 Capital?
1789 Capital was founded around three years ago by investor Omeed Malik, conservative activist Chris Buskirk and Republican donor Rebekah Mercer.
The firm markets itself as an “America-first” investment platform focused on backing US companies and technologies.
Partner Paul Abrahimzadeh, speaking to the FT, said the company wants to become a modern equivalent of The Carlyle Group, the politically connected private equity giant once known for its deep ties to Washington power circles.
“We were the first fund to commit to driving American exceptionalism in the private market: ‘Patriotic Capitalism’,” Abrahimzadeh was quoted as saying by the news outlet.
He reportedly added that the firm aims to grow assets under management to $10 billion within the next few years.
AI and tech investments drive growth
FT citing PitchBook, stated that 1789 Capital has acquired stakes in several high-profile private technology companies over the past year.
Those investments include:
Databricks
Ramp
Deel
Crusoe
Groq
Reflection AI
The firm has also invested in some of the highest-profile names in AI and aerospace, including:
xAI
SpaceX
Anduril Industries
Other investments reportedly include automation company Hadrian Automation, prediction market platform Polymarket and real estate-related ventures.
Political connections
The Financial Times report highlighted how the firm’s political connections may be helping it gain access to elite investment opportunities.
According to the news outlet, Mohsen Moazami said he first met 1789 Capital executives during a dinner at Mar-a-Lago attended by Trump and .
The company’s political network extends deep into Trump-world:
– joined the firm after the 2024 US election.
-Omeed Malik was involved in efforts to bring Robert F. Kennedy Jr. closer to Trump’s political coalition.
-Buskirk previously co-founded a donor network with Vice President JD Vance backed by billionaire investor Peter Thiel.
-Rebekah Mercer and her father Robert Mercer were major financial backers of Trump’s 2016 presidential campaign.
Big win from Cerebras IPO
One of the firm’s biggest recent successes came from its investment in Cerebras Systems.
According to the Financial Times, 1789 Capital first invested in Cerebras when the company was valued at around $8 billion and later added to its position at a $23 billion valuation.
This week, Cerebras reportedly surged to a market valuation of roughly $60 billion after its Wall Street debut, giving the investment firm a significant windfall.
