Democrats Probe 1789 Capital's Vulcan Elements Investment Ahead of Federal Funding

House Judiciary Democrats are investigating whether 1789 Capital's August 2025 investment in Vulcan Elements, a rare earth company, gave it early notice of federal support. The Pentagon later awarded Vulcan a $620 million loan; Commerce added a $50 million grant. Donald Trump Jr. is a 1789 Capital partner. The firm's counsel dismissed the probe as a "partisan stunt."