Donald Trump Jr.’s 1789 Capital pushes back against Democratic probe over alleged insider deals

Legal counsel for Donald Trump Jr.’s venture capital firm, 1789 Capital, responded to Rep. Jamie Raskin’s investigation by refusing to turn over the sought-after business records, labeling the request as political gamesmanship. Raskin, who leads the House Judiciary Committee’s inquiry, alleges the firm invested in firms such as Polymarket, Juul, Anduril Industries and a rare-earth company shortly before they obtained federal contracts or favorable policies.

The firm’s attorneys, Alexander J. Merton and William A Burck, contended that the rare-earth company secured federal work in 2024, prior to the financing round in which 1789 Capital participated, and that the firm is simply one of many institutional investors. They also criticized Raskin’s approach as “spaghetti-against-the-wall” and warned against using broad demands for confidential records to substantiate unproven claims.

The clash highlights the broader partisan battle over oversight powers that could intensify if Democrats gain a House majority in the upcoming elections. Trump Jr. is scheduled to appear in Dallas for a Republican event later this week.