The congressman’s inquiry centers on the firm’s uncanny ability to identify investments that subsequently secure lucrative federal contracts or benefit from favorable regulatory shifts. Raskin noted that 1789 Capital’s portfolio companies, including Vulcan Elements, Anduril Industries, and Polymarket, experienced significant financial or legal breakthroughs shortly after the firm acquired stakes in them. The letter specifically questions how the company managed such a transformation in fortune immediately following the 2024 election and the recruitment of the president’s son.
In his correspondence to Donald Trump Jr., company president Omeed Malik, and chief investment officer Christopher Buskirk, Raskin demanded a detailed accounting of all communications with federal officials and documentation regarding the firm's hiring practices. He set a September 9 deadline for the firm to provide these records. Counsel AJ Merton dismissed the allegations as unsubstantiated, characterizing the investigation as a politically motivated stunt that relies on recycled headlines rather than evidence.
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