Donald Trump Jr's venture capital firm, 1789 Capital, has rapidly expanded from $200mn to $3.5bn in assets under management by leveraging political connections. The Palm Beach-based company champions "patriotic capitalism," focusing exclusively on American companies and benefiting from the Trump administration's pro-business policies, particularly in AI and defense sectors.

1789 Capital has invested in sought-after late-stage private companies including Databricks, Ramp, Deel, and Cerebras, which recently surged to a $60bn market valuation after its Wall Street debut. The firm's political connections have facilitated deal-making, with some partnerships initiated at Mar-a-Lago dinners attended by the president and Elon Musk.

The firm aims to reach $10bn in assets under management, positioning itself as a "generational American financial platform" akin to Carlyle Group. Despite benefiting from current political climate, investors acknowledge potential risks if political winds shift, though Trump Jr's involvement remains a significant asset for connecting with influential figures in the US and abroad.