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AMERICANALMANAC (Sadie Smith) - Trump Jr.'s investment firm fires back at Raskin's demand for records, calls probe "political gamesmanship" Wed Sep 9 18:24:27 2026

Donald Trump Jr.'s venture capital firm, 1789 Capital, rejected Rep. Jamie Raskin's investigation demands in a sharply worded legal letter, calling his allegations unsubstantiated and refusing to hand over confidential business records. Lawyers for the firm sent the letter to Raskin's office this week, dismissing the Maryland Democrat's claims that 1789 Capital made suspiciously well-timed […] The post Trump Jr.'s investment firm fires back at Raskin's demand for records, calls probe "political gamesmanship" appeared first on American Almanac .

Donald Trump Jr.'s venture capital firm, 1789 Capital, rejected Rep. Jamie Raskin's investigation demands in a sharply worded legal letter, calling his allegations unsubstantiated and refusing to hand over confidential business records. Lawyers for the firm sent the letter to Raskin's office this week, dismissing the Maryland Democrat's claims that 1789 Capital made suspiciously well-timed investments in companies that later received federal funding or favorable policy treatment. The response, shared with CBS News , accused Raskin of conflating separate entities, mischaracterizing transactions, and contradicting his own cited sources. The clash marks the latest round in a broader Democratic campaign to scrutinize the Trump family's private business dealings, a campaign that lacks the one tool that could compel cooperation. House Democrats hold no subpoena power and will not get it unless they win the majority in this fall's midterm elections. 1789 Capital's lawyers dismantle Raskin's case point by point Attorneys Alexander J. Merton and William A. Burck, writing on behalf of the firm, did not mince words. They characterized Raskin's approach as a fishing expedition built on innuendo rather than evidence. The letter stated: "1789 Capital welcomes legitimate congressional oversight, but it has no intention of being held hostage to political gamesmanship in which assertions are made publicly and broad demands for confidential business records follow in the hope that those records will supply the factual basis that was missing when the assertions were made." That framing goes to the heart of the dispute. Raskin launched what he called an investigation last month into 1789 Capital, alleging the firm bought stakes in companies shortly before those companies received government contracts or policy wins. He described the firm's business moves as "almost clairvoyant." The companies he named included Polymarket, an online prediction market; Juul, the electronic cigarette maker; Anduril Industries, a defense technology contractor; and a small rare-earth company called Vulcan. But the firm's lawyers argued that Raskin's timeline does not hold up, at least not on Vulcan. The letter noted that Vulcan had been awarded federal business dating back to 2024, before the financing round in which 1789 Capital participated. The firm called itself "one of many institutional investors" in the company, undercutting Raskin's suggestion that the investment reflected insider knowledge of coming government action. The lawyers described Raskin's broader allegations as "unsubstantiated and emotional aspersions" and said his letter "repeatedly conflates separate entities, mischaracterizes transactions, and, in several instances, appears fundamentally at odds with the very sources it cites." They labeled the entire effort a "spaghetti-against-the-wall approach." Raskin sought encrypted messages and a full portfolio list, and got nothing The scope of Raskin's demands was broad. He sought a list of every company in 1789 Capital's portfolio, due diligence materials for its investments, and preservation of any conversations with members of the Trump administration, including messages sent through encrypted apps. The firm declined to provide any of it. That refusal carries no legal consequence at the moment. The Trump administration and private companies are not obligated to respond to letters from the minority party. Democrats would need majority control of the House, and the subpoena authority that comes with it, to force compliance. That political reality has not stopped Democrats from trying. House Democrats have sent a litany of letters in recent months demanding information from government officials, Trump family members, and firms that have done business with either. The pattern is familiar: make public accusations, request sweeping document production, and generate headlines regardless of whether the targets cooperate. At least one Arizona Democrat has openly pledged to investigate all of the president's children if the party retakes the chamber. Donald Trump Jr. joined the firm after his father's second election Trump Jr. became a partner at 1789 Capital shortly after his father won the 2024 presidential race. The firm operates as a venture capital outfit, and its investments have drawn scrutiny from Democrats who see potential conflicts of interest between the president's family and federal policy decisions. Raskin, the top Democrat on the House Judiciary Committee, has positioned himself as the lead investigator on the matter. But his probe faces a structural problem: without subpoena power, he cannot compel testimony or document production. Every letter he sends can be, and in this case was, declined. The Trump family has faced sustained political pressure from congressional Democrats for years. That scrutiny extends well beyond business dealings. Trump Jr. has also been active in intra-party Republican debates, weighing in on policy disagreements and challenging fellow Republicans he views as insufficiently aligned with his father's agenda. Meanwhile, the broader Trump family continues to navigate life in the political spotlight. Barron Trump lives under constant security protection, and the next generation, including Trump Jr.'s daughter Kai, has drawn public attention for milestones that would otherwise be private. Kai's departure for college became a news event in its own right. Republicans gather in Dallas as Democrats press their letter-writing campaign The timing of the legal response coincides with a Republican midterm convention in Dallas described as the first of its kind. President Trump is set to deliver a keynote address on Wednesday, and Trump Jr. is scheduled to attend on Thursday. For Raskin and House Democrats, the midterms represent the only realistic path to giving their investigations teeth. Without a majority, their letters remain requests, not demands. And as 1789 Capital's response demonstrates, targets with competent legal counsel can decline those requests, challenge the factual premises behind them, and do so publicly. The firm's lawyers made a point that deserves attention beyond this single dispute. They argued that Raskin made his accusations first and sought the evidence second, hoping the documents would retroactively justify the public claims. That sequence matters. Congressional oversight works best when it follows evidence to a conclusion. It works worst when it starts with the conclusion and goes looking for something to back it up. If Democrats want to prove that 1789 Capital traded on insider political knowledge, they will need more than letters and press releases. They will need facts. So far, the firm's lawyers say Raskin does not have them, and his own sources, they argue, undercut his case. Accountability is a principle, not a party trick. When it starts with the headline and works backward toward the evidence, it is not oversight, it is theater. The post Trump Jr.'s investment firm fires back at Raskin's demand for records, calls probe "political gamesmanship" appeared first on American Almanac .