House Democrats are increasing pressure on President Donald Trump’s family over business dealings they say could face deeper scrutiny if the party wins control of the House in November.
Rep. Jamie Raskin of Maryland, the ranking Democrat on the House Judiciary Committee, said Thursday that he is examining Donald Trump Jr.’s role at 1789 Capital, a venture capital firm he joined as a partner shortly after his father won a second presidential term, according to MS NOW.
In a letter to the firm, Raskin questioned whether the timing of several investments indicated possible insider trading or fraud. He said 1789 Capital’s investments during the past 18 months appeared to anticipate major federal funding decisions and regulatory changes.
“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,” Raskin writes. “They say there is no such thing as a sure thing in investing, but this is about as close as you can get.”
Raskin cited the firm’s 2025 investment in Vulcan Elements, a rare-earth magnet company that later received a $620 million Pentagon loan and a $50 million CHIPS Act grant. He also pointed to its stake in Juul, acquired months before the Food and Drug Administration reversed a ban affecting some of the e-cigarette company’s products.
The congressman requested communications between 1789 Capital and government officials, along with a complete list of the firm’s investments. He noted that the company’s assets under management have increased from several hundred million dollars when Trump Jr. joined in November 2024 to $3 billion.
“It is impossible to believe that your firm’s astonishing growth and success are due to anything other than insider political influence and thoroughgoing corruption,” Raskin wrote.
AJ Merton, counsel for 1789 Capital, rejected the allegations, calling the inquiry “unsubstantiated talking points” and “partisan stunts and politically motivated harassment, not oversight.”
Democrats currently lack the House majority needed to force testimony or documents. Republicans blocked a similar subpoena effort in March related to the Vulcan Elements deal. Raskin’s letter nevertheless signals the investigations Democrats may pursue if they regain the chamber.
Raskin has separately opened an investigation into Jared Kushner’s work as a White House peace envoy while continuing his activities as a private investor. That inquiry was expanded this week to include Kushner’s proposed luxury resort in Albania. Kushner’s representatives have disputed the allegations.
White House spokesperson Davis Ingle did not directly respond to the claims about 1789 Capital. He said Trump’s investment portfolio is “independently managed by third-party financial institutions,” adding that “neither President Trump nor any member of his family has any ability to direct, influence, or provide input” on its investments.