Trump Jr. sparks controversy by backing $60 million defense investment in rocket startup

In a significant move within the defense technology sector, Firehawk Aerospace, based in Texas, secured a $60 million investment in a series C funding round. The investment was led by 1789 Capital, a firm aligned with conservative principles and recently joined by Donald Trump Jr. This funding round, which was expected to close in January 2025, marks 1789 Capital's first foray into the defense sector and utilized contributions from various investors, including Draper Associates and Boka Capital. Firehawk specializes in developing innovative 3D-printed solid rocket propellant designed to enhance the speed and cost-effectiveness of propellant production in comparison to traditional methods. Firehawk Aerospace has already made notable strides in government contracts, particularly within the U.S. military. The company in 2022 completed initial tests at NASA's Stennis Space Center and managed to raise $18 million in a previous funding round. Firehawk's innovative propellant aims to replenish the U.S. defense arsenal, especially given increasing demands from the Pentagon and various defense contractors for modernized weaponry and missile systems. The firm prides itself on producing propellant that can be generated quickly and more economically than existing technologies. The political connections of 1789 Capital and its investors, including ties to the Trump administration, position them favorably to influence Firehawk's government contracts positively. The firm, which has overseen a total of over $150 million in fundraising, aligns its investment strategies with conservative values, actively rejecting liberal investment principles. This shift reflects a changing landscape within the venture capital industry, where emerging funds explicitly target companies seen as aligned with their ideologies while building a so-called