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 about $2 billion from existing investors. According to Odaily, the firm’s assets under management have exceeded $4 billion, and its portfolio includes Anduril Industries Inc., Polymarket, and several companies backed by Elon Musk, including X, xAI, and SpaceX.

The firm also plans to cut the number of investments it makes, increase the size of each deal, and lead more funding rounds. It was previously reported that 1789 Capital is considering leading a new $1 billion funding round for Polymarket and may invest about $300 million.