Donald Trump Jr sits out new administration to join VC firm

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Donald Trump Jr has chosen to join a venture capital firm that invests in conservative-leaning companies and the “anti-ESG” economy, rather than being part of his father’s team in the White House.

The president-elect’s eldest son will join Florida-based venture firm 1789 Capital as a partner, according to a person with direct knowledge of the move.

Trump Jr had played a central role in the re-election campaign, including throwing his support behind JD Vance, who eventually saw off competition from more established rivals to become Trump’s pick for vice-president.

Trump Jr was also instrumental in building closer ties with Robert F Kennedy Jr, who abandoned his third-party bid for the White House and came out in support of Trump.

The 46-year-old has also encouraged the president-elect’s growing interest in cryptocurrencies — a sector Trump senior once derided but has since embraced. Along with his brothers Eric and Barron, Trump Jr is closely involved in World Liberty Financial, a crypto business launched this year.

The president-elect is in the process of building his core team. He plans to appoint immigration hardliner Stephen Miller as his deputy chief of staff for policy and is expected to nominate China hawk Marco Rubio for secretary of state.

Trump Jr, who has championed “new right” causes, is joining a venture firm that claims to be “backing companies building the next era of American prosperity”.

1789 Capital targets the so-called “parallel economy”, including alternative media. The small firm, founded in 2022, has one listed investment on private markets database PitchBook: Tucker Carlson Network, the streaming platform set up by rightwing pundit Tucker Carlson.

Founded by Trump-backer Omeed Malik, the firm is also targeting “sectors that have been negatively impacted” by environmental, social and governance (ESG) principles and “cutting-edge technologies that disrupt industries weighed down by excessive bureaucracy”, according to its website.

Trump Jr’s appointment was first reported by the New York Times.