Donald Trump Jr, the eldest son of president-elect Donald Trump, has decided to join a venture capital firm and will not be part of his father’s administration.

Trump Jr told a crowd of donors over the weekend that he will be joining the Florida-based venture firm 1789 Capital, according to a report in the New York Times.

The announcement was made at a conference held by the Rockbridge Network, a conservative political advocacy group that was founded by the vice-president-elect, JD Vance, and Christopher Buskirk, the founder of 1789 Capital.

1789 Capital, which is led by the investment banker Omeed Malik, a Trump donor, focuses on investing in companies and products that appeal to conservative audiences.

Named after the year the Bill of Rights was adopted, 1789 Capital says it is “anti-ESG”, referring to investments driven by environmental, social and governance issues.

Instead, the company invests in what it describes as “EIG”, or entrepreneurship, innovation and growth. The company also states that it invests in and focuses on deglobalization and “cutting-edge technologies that disrupt industries weighed down by excessive bureaucracy”.

The firm was founded in 2022, according to the Financial Times, and reportedly has one listed investment on a private markets database, which is the streaming platform created by Tucker Carlson.

Among its board members is Blake Masters, the entrepreneur, investor and venture capitalist who ran an unsuccessful campaign for the US Senate in Arizona in 2022, and denied the results of the 2020 election.

Trump Jr has played a central role in both his father’s 2016, 2020 and 2024 presidential campaigns. This campaign, Trump Jr was reportedly the person who advocated most strongly for the Ohio senator JD Vance to be Trump’s vice-presidential pick.

He has also been actively involved in the current White House transition process to establish a new administration.

So far, the incoming administration has offered positions to several people, including the Florida senator Marco Rubio (secretary of state) and the immigration hardliner Stephen Miller (deputy chief of staff for policy).

On Thursday, two days after the election, Trump Jr told Fox News that he would be “heavily involved” in the transition process.

“I want to make sure now that we know who the real players are, the people who will actually deliver on the president’s message, the people who don’t think that they know better than the duly elected president of the United States,” Trump Jr said. “I want to make sure that those people are in his cabinet. I want to make sure that those people are in this administration.”

Trump Jr also told Axios that over the summer that he hoped to have “veto power” over hiring decisions for the new administration, if his father were to win.

“I don’t want to pick a single person for a position of power, all I want to do is block the guys that would be a disaster,” he said at the time.

“I want to block the liars, I want to block the guys that are pretending they’re with you,” he continued. “You guys pick the guy that’s right, I want a veto power to cut out each and every one of those people,” he said.

Trump Jr has built a loyal following in the Trump universe, and hosts a podcast, Triggered With Don Jr. He also serves as the executive vice-president of the Trump Organization, where he works to “expand the company’s real estate, retail, commercial, hotel and golf interests”.

In recent months, Trump Jr has also been promoting a cryptocurrency venture, World Liberty Financial, along with his brother, Eric Trump.