Malik’s 1789 Said to Back Defense, Rare-Earth Magnet Startups

Omeed Malik’s 1789 Capital, where Donald Trump Jr. is a partner, has made two new investments in defense technology startups as the Trump administration pushes greater government spending on national security.

In recent weeks, 1789 invested in Vulcan Elements, a maker of powerful rare-earth magnets, according to people familiar with the matter, who requested anonymity because the stake isn’t public. The firm also took a stake in Hadrian, a builder of automated factories for aerospace and defense manufacturers, the company’s chief executive officer posted on Xlast month.

Taken together, the new positions push 1789, co-founded by Malik, a ...