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Inside 1789’s $2 billion bet on ‘patriotic capitalism’
- 1789 Capital has raised more than $2 billion to back investments aligned with what its founders call patriotic capitalism.
- The fund targets defense tech and re-industrialization to boost American competitiveness, according to Malik.
- 1789 has invested in Anduril and Hadrian, both defense tech firms using AI for next-gen weapons.
- The fund also backs Vulcan Elements to secure domestic rare-earth supply chains for national resilience.
- Trump Jr. says the fund invests only in America, calling it the 'parallel economy' strategy.
- The fund has faced criticism for attracting Middle Eastern funds while pursuing an America-first mission.
- Malik notes strategic Gulf partnerships are essential to American competitiveness, not a contradiction of the mission.
- The 1789 leadership frames patriotic capitalism as a way to empower conservatives amid platform deplatforming.
- Executives emphasize pro-technology, pro-growth aims within a MAGA-aligned private-sector framework.
- The fund declined an OpenAI investment last year over concerns about alignment with the ethos.
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