US House Democrats have opened an investigation into 1789 Capital, a venture capital firm that recruited Donald Trump Jr as a partner days after his father's November 2024 election victory and subsequently saw its assets surge from roughly $150 million to a reported $3.5 billion. Congressman Jamie Raskin, the ranking Democrat on the House Judiciary Committee, wrote to Trump Jr and the firm's founders demanding records of investments and communications with government officials by 9 September, alleging the firm has shown an "uncanny ability" to identify companies that go on to receive large federal contracts or regulatory benefits — including a defence startup that later secured a $620 million Pentagon loan. The firm dismissed the inquiry as a "partisan stunt," while Trump Jr has said he never discusses business with his father and holds no role in the administration; Democrats, however, note they have limited power to compel testimony without Republican support for a formal subpoena.