Rep. Jamie Raskin has opened a congressional inquiry into 1789 Capital, the venture firm where Donald Trump Jr. is a partner, questioning whether the company’s investments benefited from “insider political influence,” according to a letter the congressman sent to 1789 on Aug. 26.
1789 Capital pushed back, with news outlets reporting the firm rejected Raskin’s accusations and rebuffed the inquiry. CBS News reported the firm “punched back” at suspicions raised by Raskin, and Axios said 1789 responded to the House probe, calling the allegations inaccurate.
The letter from Raskin, published by the House Judiciary Democrats, cites a pattern of investment timing after the 2024 election and sought documents and explanations from 1789’s principals. The Democrats’ media release said Raskin asked for details on investments and apparent windfalls tied to federal funding and regulatory actions.
Coverage in multiple outlets traced the scrutiny to reporting on rapid gains for companies backed by 1789 after Donald Trump Jr. joined the firm; Bloomberg and the New York Times reported on the firm’s growth and fundraising in mid-2026, and Politico published the Aug. 26 letter to the firm that said 1789’s investment thesis was public well before the 2024 election.
1789’s rebuttal, reported by Axios and CBS, framed the firm’s record and strategy as public and challenged the implication of impropriety. CryptoBriefing also reported that 1789 “rebuffs congressional inquiry” and cited the firm declining to provide some requested materials, saying the requests lacked legal basis.
The inquiry is ongoing; outlets say Raskin’s letter asked for documents and a timeline from 1789 while news organizations continue to report on the firm’s fundraising pace and government-related contracts. Axios described the move as a response to the House Democrat probe, while CBS noted the firm publicly rejected the accusations.
Donald Trump Jr.’s name appears in public materials as a partner at 1789 and in corporate team listings on the firm’s site, details repeated in coverage that prompted the congressional request, according to the House Democrats’ release and 1789’s own team page.
Sources
- House Judiciary Democrats — the Aug. 26 letter from Rep. Jamie Raskin requesting documents and raising insider-influence concerns.
- CBS News — reported that 1789 Capital “punched back” at Raskin’s accusations and rejected the claims.
- Axios — described 1789 Capital’s response as a rebuff to the House probe and said the firm disputed the allegations.
- Politico — hosted the Aug. 26 letter and noted 1789 said its investment thesis predated the 2024 election.
- CryptoBriefing — reported that 1789 “rebuffs congressional inquiry” and cited the firm declining some requests.
- Bloomberg — provided context on the firm’s rapid fundraising and connections cited in coverage.
