Interesting move in the venture capital space—Vulcan Elements just landed a massive $620 million defense contract from the U.S. Department of War. What makes this notable? The rare-earth magnets startup has backing from 1789 Capital, the VC firm tied to Donald Trump Jr.

Rare-earth materials have been a hot topic lately, especially with supply chain concerns and domestic manufacturing pushes. This contract signals serious government interest in securing critical materials infrastructure. For those tracking where political capital meets actual capital deployment, this is worth watching. The intersection of defense spending, strategic resources, and politically-connected funding could reshape how we think about deep-tech investments in sensitive sectors.