1789 Capital

1789 Capital Management, LLC
Company type	Private
Industry	Venture capital
Founded	October 3, 2022; 4 years ago
Founder	Omeed Malik, Rebekah Mercer, Chris Buskirk
Headquarters	Palm Beach, United States
Area served	United States
Key people	Omeed Malik (President), Chris Buskirk (Chief Investment Officer), Jordan Cohen (Partner and COO), Paul Abrahimzadeh (Partner), Andy Nasser (Partner), Donald Trump Jr. (Partner), Joe Voboril (Partner)
Products	Venture capital investments in conservative-aligned companies including Anduril Industries, Hadrian, BlinkRX, Axiom Space, Juul Labs, GrabAGun, Vulcan Elements, Cerberas, Groq, Perplexity AI, Reflection AI, Plaid Inc., Polymarket, Substack, Last Country Inc., Neuralink, X (formerly Twitter), xAI, SpaceX
Number of employees	Not specified
Parent	Rockbridge Network (affiliates)

1789 Capital Management, LLC is a venture capital firm headquartered in Palm Beach, Florida, United States. The firm concentrates on investments in companies and products that uphold conservative principles, positioning itself explicitly against ESG-focused investment strategies.

History

Established on October 3, 2022, 1789 Capital was created by affiliates of the Rockbridge Network, including investment banker Omeed Malik, heiress Rebekah Mercer, and entrepreneur Chris Buskirk, following the 2022 Rockbridge Summit. Early involvement also included Blake Masters. The firm's name pays homage to the year the U.S. Bill of Rights was ratified.

Planning for joint investments reportedly began around 2020 between Donald Trump Jr. and Malik, preceding Trump Jr.'s formal association with the company. As reported by Reuters, Peter Thiel played an instrumental role in founding the firm; Buskirk is known to be a close associate of Thiel, while Blake Masters, previously affiliated with Thiel Capital, served on the board. The fund’s objective is to create a "parallel economy" that integrates businesses, media entities, and political groups connected to the America First ideology. Notable investments include defense contractor Anduril Industries, Hadrian—a defense manufacturer—and other companies supported by Thiel.

Initially incorporated in Delaware, 1789 Capital now primarily operates out of Palm Beach, Florida, with additional offices located in Scottsdale, Arizona. The firm's registered agent within Florida is the Tallahassee office of the Corporation Service Company.

In 2023, the firm made its inaugural investment in a media venture spearheaded by Tucker Carlson and political advisor Neil Patel. Following Donald Trump's victory in the 2024 presidential election, Donald Trump Jr. joined 1789 Capital as a partner rather than assuming a governmental position. In January 2025, shortly before Trump’s inauguration, 1789 Capital co-hosted a fundraising event at Trump's Mar-a-Lago estate.

By October 2025, the company’s website declared its mission as "Funding the Next Chapter of American Exceptionalism." As of September 2025, reported assets under management were approximately US$861 million.

Mission and investments

1789 Capital advocates for what it terms "patriotic capitalism," directing funds toward companies that reject "woke" ideologies and align with "America First." Malik underscores an emphasis on enterprises exemplifying "entrepreneurship, innovation and growth" (EIG), particularly those free from ESG or DEI influences. The firm prioritizes "deglobalization," favoring businesses relocating manufacturing back to the United States and seeks to establish a "parallel economy" composed of conservative-aligned companies to "depoliticize" investment decisions. Malik refers to this approach as representing the interests of the "silent majority."

One of the firm’s strategic ambitions is to evolve into a "large, multi-strategy asset manager." Key portfolio holdings include:

BlinkRX, a digital pharmacy;
space exploration company Axiom Space;
the Enhanced Games;
defense contractors such as Anduril Industries, Firehawk Aerospace, and Hadrian;
e-cigarette manufacturer Juul Labs;
GrabAGun, an online firearms retailer;
Vulcan Elements, producer of rare earth magnets;
Happy Dad LLC, a hard seltzer brand;
AI firms including Cerberas, Groq, Perplexity AI, and Reflection AI;
financial technology company Plaid Inc.;
cryptocurrency prediction platform Polymarket;
online newsletter service Substack;
Last Country Inc., which operates the Tucker Carlson Network website.

The firm also maintains significant investments in Elon Musk’s enterprises such as Neuralink, X (formerly Twitter), xAI, and SpaceX, continuing support despite public disagreements between Musk and Donald Trump.

Described by Malik as the "Amazon of guns," GrabAGun aligns closely with 1789 Capital's principles, especially concerning Second Amendment rights. Malik noted that regulatory obstacles have historically restricted capital flow to such businesses, positioning 1789 Capital to address this financing gap. Partner Paul Abrahimzadeh emphasized the firm's focus on late-stage technology and energy sector companies.

1789 Capital deliberately avoids investing in companies like OpenAI that it perceives as insufficiently supportive of the Trump administration's agenda. Donald Trump Jr. has stated he has turned down major deals when corporate values do not align with MAGA principles.

In September 2025, Bloomberg disclosed that 1789 Capital had attracted approximately $1 billion in initial investor commitments for a new real estate fund targeting South Florida properties, particularly in Palm Beach and Boca Raton, collaborating with Frisbie Group.

In October 2025, Colombier Acquisition Corp. III—a special purpose acquisition company (SPAC) associated with Malik and linked to prior transactions involving 1789 Capital—filed for an initial public offering on the New York Stock Exchange aiming to raise $260 million at $10 per share. Roth Capital Partners underwrote this offering with Chamath Palihapitiya anticipated to join as a board member.

Members and supporters

1789 Capital was established by Chris Buskirk, Omeed Malik, and Rebekah Mercer. Malik holds the position of president, Buskirk acts as chief investment officer, and Jordan Cohen serves as partner and chief operating officer. Additional partners include Paul Abrahimzadeh, Andy Nasser, Donald Trump Jr., and Joe Voboril.

Previously, venture capitalist Blake Masters was listed on the Board of Advisors but has since been removed from the firm's website.

Among the initial investors were prominent individuals such as Marc Andreessen, Charlie Kirk, and Clay Travis.

1789 Partners

1789 Capital manages a think tank based in South Korea named 1789 Partners. Park Byung-eun serves as CEO and is connected with Rockbridge Korea, the Seoul branch of the Rockbridge Network. Leadership also includes Chung Yong-jin from Shinsegae alongside Rockbridge Korea.

Reception

1789 Capital has attracted criticism from various quarters including media organizations, financial analysts, ethics specialists, government oversight groups, and Democratic politicians due to its associations with the Trump administration.

Business Insider drew parallels between Donald Trump Jr. and Hunter Biden, suggesting that Trump Jr.'s role in 1789 Capital mirrors questionable financial activities linked to Hunter Biden during his father's presidency. Trump Jr. refuted this comparison on X, underscoring his business experience predates his father’s term and asserting that his investments operate independently of governmental influence. A representative for 1789 Capital told The New York Times that the firm emphasizes transparency and regulatory compliance despite none of its team having prior government service. Nevertheless, reporters from Reuters and The Daily Beast disputed Trump Jr.’s assertions by highlighting the firm’s expansion into defense-related investments that secured contracts under the Trump administration.

A seasoned Wall Street investor quoted by Business Insider indicated that 1789’s transactions allow Trump Jr. to indirectly benefit financially from actions taken during the administration, describing it as a revenue source linked to Mar-A-Lago. The Revolving Door Project (RDP) has also flagged concerns about 1789 Capital within its "Corruption Calendar," grouping it with other controversies involving the Trump administration and affiliates.

Donald Sherman of Citizens for Responsibility and Ethics in Washington (CREW) remarked that existing regulations inadequately address financial entanglements involving adult children of government officials, highlighting specific risks posed by activities involving Trump Jr. and President Trump.

Controversy emerged over 1789 Capital's stake in Polymarket and Donald Trump Jr.'s board membership shortly after the Commodity Futures Trading Commission (CFTC) concluded its investigation into the company. Critics such as Dennis Kelleher of Better Markets questioned whether Polymarket exploited regulatory adjustments to re-enter the U.S. market through indirect means.

Colby Goodman from Transparency International pointed out potential risks related to insider knowledge benefiting 1789 Capital’s investments in U.S. government procurement processes. The left-leaning media outlet Daily Kos criticized the firm as a representation of crony capitalism thriving on familial connections rather than competitive market forces.

In mid-2025, WSJ journalist Rebecca Ballhaus submitted an extensive Freedom of Information Act (FOIA) request to the SEC seeking documents concerning 1789 Capital, signaling heightened regulatory attention amid ongoing probes into conflicts of interest within federal agencies.

In October 2025, The Wall Street Journal disclosed that 1789 Capital attempted to market sponsorships for a conference advertised as a U.S. Treasury AI summit without securing approval from the Treasury Department. The event was subsequently rebranded, raising alarms about potential exploitation of government association for private benefit. Ethics authorities and MSNBC commentators cited this incident as part of continuing conflicts-of-interest issues linked to 1789 Capital and members of the Trump family.

Additional scrutiny has focused on 1789 Capital’s investment in BlinkRX, which stands to gain from a May 2025 executive order by Donald Trump mandating online prescription drug sales without insurance coverage. BlinkRX’s involvement in supporting the government-operated TrumpRx platform and hosting a pharmaceutical conference featuring Trump administration officials intensified concerns regarding possible self-dealing.

Other prominent critics include Richard Painter and Ann Skeet.

External links

SEC filings – provided by the United States Securities and Exchange Commission
Bloomberg company profile