Donald Trump Jr. Will Reportedly Join An Anti-ESG Venture Capital Firm Instead Of The White House—Here’s What We Know

Topline

Donald Trump Jr., the president-elect’s oldest son, will not be taking up a role at the White House in his father’s second administration and will instead join a venture capital firm that invests in conservative-leaning businesses, according to the New York Times and Bloomberg.

Key Facts

According to the Times, which first reported the story, Trump Jr. informed a group of top donors about his plans to join 1789 Capital on Sunday at a conference organized by the Rockbridge Network—a conservative political advocacy group co-founded by Vice President-elect JD Vance.

On its website, the venture capital firm describes itself as anti-ESG, a shorthand for investment driven by environmental, social, and governance issues which has come under attack from conservatives in recent years as being too “woke.”

1789 Capital instead describes itself using its own “EIG” acronym, which it says is short for “Entrepreneurship, Innovation, and Growth” and says it is focused on deglobalization and “technologies that disrupt industries weighed down by excessive bureaucracy.”

The venture capital firm’s co-founder and president is investment banker Omeed Malik, who made political donations both to Trump’s reelection campaign and to other GOP candidates this year.

Christopher Buskirk, who co-founded Rockbridge Network with Vance, is listed as 1789 Capital’s other co-founder and CIO.

The firm launched a $150 million fund last year, focussed on its so-called EIG framework.

Tangent

Last October, 1789 Capital led a $15 million seed funding round for former Fox News host Tucker Carlson’s new media venture. At the time, Malik told the Wall Street Journal that his company aims to “capitalize on opportunities left open by the ‘wokeness’ of more traditional sources of capital.” Buskirk told the Journal that the fund’s vision was to create the Fox News equivalent for the 2020s and 2030s in the way media mogul Rupert Murdoch built the conservative cable news outlet.

Big Number

$61,600. That’s the combined amount Malik donated to various super PACs backing Trump’s candidacy, including the President-elect’s main joint fundraising committee, according to Federal Election Commission filings as of mid-October.

Surprising Fact

Former GOP Senate candidate Blake Masters and Republican megadonor Rebekah Mercer are among the key investors backing 1789 Capital’s $150 million “EIG” fund. Masters is also listed on the company’s website as a member of its Board of Advisors.

Further Reading

Donald Trump Jr. Is Joining a Venture Capital Firm (New York Times

Tucker Carlson’s Media Company Secures Investment Led by New ‘Anti-Woke’ Firm 1789 Capital (Wall Street Journal)