GRAND RAPIDS — A West Michigan capital investment fund that involves the family office for Doug and Maria DeVos wants to make long-term investments across a variety of industries with a goal of preserving and growing local companies and jobs.
The DeVoses’ Continuum Ventures LLC has partnered with Grand Rapids-based Auxo Investment Partners to manage the new Michigan Opportunity Fund, whose early investors include businessman and auto racing icon Roger Penske. Among the fund’s investment targets are Michigan-based family-owned companies whose owners are ready to retire and lack a next generation to take over.
The Michigan Opportunity Fund will make majority and minority investments in small and mid-sized companies across the state. Investments will occur across the capital spectrum, from growth and buyout capital to subordinate and distressed debt.