1789 Capital took an undisclosed Vulcan Elements stake in a $65 million round
Reporting and findings
- reported
ProPublica reports that Vulcan Elements announced a $65 million investment round in August 2025 that included 1789 Capital; neither the company nor the fund disclosed 1789's contribution or ownership percentage.
- ProPublica: The White House Intervened to Get a $620 Million Deal for a Company Tied to Donald Trump Jr.Investment and ownership discussion following the company-history section
- Vulcan Elements: Vulcan Elements Announces $65 Million Series A, and Produces High-Performance Rare Earth Magnets in the United StatesAugust 11, 2025 Series A announcement; round size and participating investors including 1789 Capital
Summary and current status
The fund entered the rare-earth magnet company about three months before a large Pentagon financing announcement.
1789 stake retained; stake size not publicly disclosed
People and organizations
- Donald J. Trumpfather and sitting president during his sons' private investment activity
- 1789 Capitalinvestor with undisclosed stake
- Vulcan Elementsrare-earth magnet company
- Donald Trump Jr.son and 1789 Capital partner
Relationships in this file
- 1789 Capitalparticipated in $65 million investment roundVulcan Elements
- Donald J. Trumpson and partner at 1789 CapitalDonald Trump Jr.
Money trail
investmentVulcan investment round$65,000,000 - Investor / source
- 1789 Capital and other round investors
- Investment recipient
- Vulcan Elements