Democrats on a powerful US congressional committee have launched an investigation into a venture capital firm which has thrived since recruiting Donald Trump’s son.

Donald Trump Jr joined 1789 Capital as a partner just days after his father won a second term in office in November 2024. Congressman Jamie Raskin, ranking member of the US House of Representatives judiciary committee, has asked the president’s son to detail the firm’s recent success.

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“Two years ago,” Raskin wrote, 1789 Capital was “a struggling venture capital firm that earned consistently disappointing results by serially investing in total market flops” but has since undergone a “miraculous transformation”.

“With Don Jr’s new leadership role, 1789 Capital has developed an uncanny ability to identify companies that are about to receive massive influxes of cash from the Trump administration or to benefit from significant changes in federal policies and regulations,” the top Democrat wrote. “They say there is no such thing as a sure thing in investing, but this is about as close as you can get.”

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