1789 Capital, the investment firm backed by Donald Trump Jr., is seeking $3 billion for its second growth fund after securing approximately $2 billion from existing investors. Its assets under management exceed $4 billion, with holdings including Anduril Industries, Polymarket and Elon Musk-affiliated companies X, xAI and SpaceX. The firm plans to make fewer investments, commit more capital to each position and lead more funding rounds. It is also reportedly considering leading a new $1 billion funding round for Polymarket, with a planned commitment of approximately $300 million.