Konstantin Sokolov, a Russian-born private equity investor from Chicago, has been appointed chairman of a newly established State Department enterprise fund, the Trump administration confirmed on Friday.
The fund, named Tripp+, will manage more than $200 million dedicated to a Central Asia trade corridor, with investments targeting transportation, energy infrastructure, and critical minerals.
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Sokolov is the latest donor to Donald Trump's ballroom project to receive a government position.
According to research by watchdog group Public Citizen, Sokolov was among 36 donors who contributed over $350 million to the ballroom project.
The watchdog group revealed that two-thirds of the corporate donors have since received government contracts, while several individual contributors have secured high-profile political appointments.
Campaign finance records show Sokolov has given more than $12 million to Republican campaigns and political groups during Trump's second term, including $11 million to the president's Super PAC, MAGA Inc., and $443,000 to the Republican National Committee.
Tripp+ Fund and Central Asia Trade Corridor
The Tripp+ fund takes its name from the Trump Route for International Peace and Prosperity, a 27-mile trade corridor spanning southern Armenia and Azerbaijan.
A State Department spokesperson stated that the $201 million fund has authorization to make loans, equity investments, and grants in the South Caucasus and Central Asia.
Vice-President JD Vance, during a visit to Yerevan in February, described the Tripp+ fund as part of a "historic transformation" that would "open up a whole new world of trade, transit and energy flows."
