Donald Trump Jr. joins a venture capital firm that touts its anti-ESG stance

Donald Trump Jr. will not take on a White House role, opting instead for venture capital firm 1789 Capital. The company, co-founded by Omeed Malik, funds conservative causes like Tucker Carlson's media company. The Florida company is anti-ESG. It focuses on “EIG”, or entrepreneurship, innovation and growth.

The venture capital firm that Donald Trump Jr. reportedly joined avoids investments that emphasize social and environmental issues and instead focuses on what it calls “GIEs,” or entrepreneurship, innovation and growth.

The Palm Beach, Fla.-based company called 1789 Capital (the U.S. Constitution took effect that year) invested in Tucker Carlson's new conservative media venture, Substack, and BlinkRx, a prescription startup.

The president-elect's eldest son, who played an active role in Donald Trump's presidential campaign and is now part of his transition team, told a group of supporters at a conference earlier this week that he would join 1789 as an associate, the New York Times first reported. . Several people with knowledge of the matter also told Bloomberg about Trump Jr.'s plans.

The company was co-founded in 2022 by Omeed Malik, a former Bank of America executive who also founded the investment bank Farvahar Partners alongside author and investor Christopher Buskirk.

Malik, who once co-hosted a Trump fundraiser that raised more than $10 million, is president of the company and Buskirk is chief investment officer, according to its website. Both Buskirk and Malik have donated to Trump's 2024 presidential campaign, the Republican National Committee, and other conservative causes and candidates, according to political donation records.

The company bills itself as “anti-ESG,” an acronym for companies that say they are committed to certain principles focused on the environment, social justice and corporate governance. One of 1789's areas of focus is companies or sectors that have faced the negative effects of ESG, its website states. He also focuses on what he calls deglobalization, building an economy parallel to the traditional economy, and disrupting industries he believes are weighed down by excessive bureaucracy.

Like 1789 Capital, Trump Jr. has long been a proponent of the shadow economy, also known as the “patriot economy,” a term used by MAGA conservatives to refer to businesses that align with their traditional values.

And the connection between Trump Jr. and Malik, the chairman of 1789 Capital, includes the two men's mutual support of a shadow economy platform called PublicSquare.

Both Malik and Trump Jr. have invested in and actively supported PublicSquare, an online shopping marketplace similar to Amazon that bills itself as a place to connect Americans to “businesses that value life, family, and freedom.” To use the platform, businesses must commit to PublicSquare's core values, which include the “sanctity of every life,” “the family unit,” “liberty and truth,” and respect for the U.S. Constitution .

Malik and Trump Jr. together rang the opening bell of the New York Stock Exchange on the day the company went public in 2023, Time Magazine reported at the time. Malik did not return a request for comment from BI.

As for 1789 Capital's own investments, the company contributed $15 million to the Tucker Carlson Network, the former Fox News host's conservative commentator and new media venture, according to the VC database PitchBook .

On its website, the company does not tout its specific investments, but offers a broad list of sectors it is interested in, including consumer, fintech, healthcare, B2B SaaS, technology services, software, infrastructure, energy and particular situations.

Representatives for Trump Jr. through the Trump Organization and the Trump transition team did not respond to a request for comment from BI. Buskirk also did not respond to BI's requests for comment, nor did the company's chief operating officer, Jordan Cohen.

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