Another DeVos investment venture: More for the Capitalist Class, to hell with everyone else

On Sunday, the business-centered publication MiBiz, posted a story about a new Capital Investment Fund that is being spearheaded by Doug & Maria DeVos.

According to MiBiz, “The DeVoses’ Continuum Ventures LLC has partnered with Grand Rapids-based Auxo Investment Partners to manage the new Michigan Opportunity Fund.” For those unfamiliar with Continuum Ventures LLC, it is the investment company for Doug & Maria DeVos, their children and their children’s spouses.

The focus of the DeVos investment company, Continuum Ventures LLC, is reflected on their website, with these three areas of focus:

• Business: Focused on business ownership and investments that drive mutual benefit and value to our customers, employees, communities and shareholders.
• Community: Committed to helping people realize their potential and building vibrant communities for a better tomorrow.
• Civic Engagement: Engaged champion and advocate for good public policy that breaks down barriers that inhibit success and advancement of people.

It is worth deconstructing these three areas. When the DeVos family says Business and Community, they really mean the business community. Their commitment to wealth accumulation has been demonstrated for decades, initially though the Amway Corporation, then RDV Corporation, the Windquest Group, DP Fox Ventures and CWD Real Estate Investment, just to name a few. The DeVos family didn’t amass billions over the years because they care about community the amassed their wealth by exploring workers, using their Amway pyramid scheme and by buying political candidates to further their interests. When the DeVos family says Civic Engagement, they really mean buying politicians who will implement public policy that benefits their interests and the other members of the Capitalist Class. During the last election cycle, the DeVos family contributed millions to the GOP, including substantial contributions to the re-election of Donald Trump. See more details in our publication A DeVos Family Reader at this link. https://griid.org/reports/ 

In the MiBiz article, Doug DeVos is quoted as saying he wants to support businesses financially and by connecting them to other community partners, which means to other people who are part of the Capitalist Class and the Grand Rapids Area Power Structure. 

Two groups that DeVos cites in the article are the West Michigan Policy Forum, where he serves on the board of directors, and the Grand Rapids Area Chamber of Commerce. GRIID has been monitoring both of the groups for more than a decade and these two groups have demonstrated over the over how they are committed to wealth accumulation for the Capitalist Class while promoting public policy that disproportionately harms workers, the Black Community and other communities of color.

One of the initial investors in the Michigan Opportunity Fund is Roger Penske, the 83-year-old chairman of Bloomfield Township-based Penske Corp. According to OpenSecrets.org, Roger Penske has also contributed millions to the Republican Party, which is a clear indicator to where his allegiances are……with the Capitalist Class. Don’t be fooled by this new DeVos investment fund and their claims to care about community. Looking at their track record should tell us who they consider community and who they don’t really consider at all.