1789 Capital rebuffs congressional inquiry, cites lack of evidence

1789 Capital, the venture capital firm that counts Donald Trump Jr. as a partner, has formally told Congress to take a hike. In a letter dated around September 9, 2026, the firm’s legal counsel rejected an inquiry from Rep. Jamie Raskin (D-MD), characterizing it as built on unfounded allegations rather than actual evidence. The firm declined to provide the documents Raskin had requested, which included a comprehensive portfolio list and communications with government officials. The deadline for that handover was the same date the rejection letter was sent. What Raskin wanted, and why The Democratic-led inquiry, launched in late August 2026, zeroes in on whether 1789 Capital’s portfolio companies benefited from their proximity to the White House. The most eyebrow-raising case involves Vulcan Elements. Just months after 1789 Capital invested in the company in August 2025, Vulcan received a $620 million loan from the Department of Defense. Vulcan also reportedly received a $50 million equity investment around the same period. White House adviser Peter Navarro was reportedly involved in the loan approval process. Raskin’s inquiry also flagged investments in Anduril Industries and Juul ...