1789 Capital, the investment firm backed by Donald Trump Jr., is seeking to raise $3 billion for its second growth fund and has already secured approximately $2 billion from existing investors. The firm’s assets under management now exceed $4 billion, with a portfolio spanning Anduril Industries, Polymarket, and Elon Musk-affiliated companies including X, xAI, and SpaceX. The firm plans to shift its strategy by reducing the number of investments while increasing individual position sizes and leading more funding rounds. 1789 Capital is reportedly considering leading a new $1 billion funding round for prediction market platform Polymarket, with a planned commitment of approximately $300 million.