1789’s capital assets rose to $3.5B after the deal swap.

A year ago, 1789 Capital had about $200 million under management. Today, that figure sits at around $3.5 billion. That's a 17x jump in assets under management for a firm that built its entire brand on being an anti-ESG alternative in private markets.

The venture capital firm closely associated with Donald Trump Jr. has been on a tear touching real estate, artificial intelligence and semiconductor technology.

1789 How to get capital to 3.5 billion dollars

One of the headline moves: a $1 billion fund dedicated to South Florida real estate.

1789 Capital appeared on the Cerebras Systems cap chart, the AI ​​chip company chasing a $5.55 billion IPO. The company has been spotted with major players such as the Abu Dhabi Development Fund and the G42 in the broader AI investment landscape.

Since 2020, mega funds have attracted a disproportionate amount of new assets under management in the private markets, and 1789 Capital appears to be riding that wave while forging a different ideological line.

The anti-ESG playbook

The firm has clearly positioned itself as an “anti-active” alternative manager, targeting investors who are skeptical or hostile to the ESG frameworks that have shaped institutional capital allocation over the past decade.

Donald Trump Jr.'s association with the organization provides built-in name recognition and access to a network of high-net-worth individuals politically connected to the brand.

What does this mean for investors?

Going from $200 million to $3.5 billion means the company has to land significantly more deals and bigger ones than it did a year ago. His $1 billion South Florida real estate fund and his involvement in multibillion dollar AI transactions suggest he's chasing bigger check sizes rather than simply writing lots of smaller checks.

The firm does not currently operate an independent crypto fund.