Former Fox News primetime host Tucker Carlson scored a win Monday as an "anti-woke" venture capital firm has agreed to invest millions of dollars in his budding media startup, according to reports.
Mr. Buskirk and Mr. Malik told the Journal that 1789 Capital sees investment opportunities in three key areas, including in what they described as the "parallel economy," where companies like Mr. Carlson's use existing business models to reach conservative-leaning consumers.
Another area of focus for 1789 is investing in companies that are bringing jobs back to the United States as part of the broader trend of deglobalization and reordering of supply chains.
The third is what Mr. Malik described as capital-seeking companies left out in the cold due to politicized investment decisions on the part of the collective "ESG cult."
A near-obsession on the part of some ESG advocates to put left-leaning ideologies ahead of business imperatives in investment decisions is presumably what Mr. Malik meant by calling the movement a "cult."
“What we are focused on is opportunities that we think have developed in the market because other forms of institutional capital have become politicized,” Mr. Buskirk told the Journal.
Mr. Malik told the outlet that he sees the total addressable market for Mr. Carlson's content as at least the 74 million or so Americans who voted for President Donald Trump.
He added that he believes 1789 Capital could be a beneficiary of the broader backlash against woke companies pushing leftist agendas, such as the Bud Light boycott driven by the beer brand's marketing partnership with transgender social media influencer Dylan Mulvaney.
“Where’s the money going to go?” Mr. Malik said. “I want us to be the beneficiary of it.”
Mr. Carlson has not publicly commented on reports of the $15 million investment by 1789 Capital.
Tucker Carlson's Media StartupAfter Mr. Carlson was ousted from his top-rated program on Fox News earlier this year, he began posting free video content on X.
Mr. Carlson and Mr. Patel are no strangers to joint business ventures as the two—who were roommates at Trinity College in Connecticut—founded The Daily Caller together in 2010.
Citing "people familiar with the matter," the outlet reported that the goal of the seed investment round is to get Mr. Carlson's and Mr. Patel's media company to a point where they can show a proof of concept for their business model—and so open the door to further rounds of funding.
ESG In The CrosshairsMr. Malik's remarks about 1789 Capital's focus on supporting budding businesses snubbed by the "ESG cult" comes amid broader criticism of ESG and corporate wokeism.
Specifically, the trade group criticized the Securities and Exchange Commission for giving special privileges to ESG activists and proposing rigid ESG mandates that burden manufacturers without benefiting investors.
The manufacturing group called on Congress to intervene and limit proxy advisory firms' influence, reinforce fiduciary duty, and prevent activist agendas.
"Congress must step in to depoliticize the business decisions that impact the lives and life savings of millions of Americans," the group wrote.
"ESG is an evil pollutant that must be eradicated from corporations and businesses," Rep. Ralph Norman (R-S.C.) said in a statement.