Windquest Group

Windquest Group is the family office and private investment firm of Dick and Betsy DeVos, based in Grand Rapids, Michigan. The DeVos family’s wealth, estimated at approximately $5 billion for this branch, derives from the family’s founding role in Amway Corporation (now Alticor Inc.) and has been diversified through decades of private investment, operating company management, and philanthropic activity.

Investment Strategy

The DeVos family’s wealth traces to Amway, the direct-selling company co-founded by Richard DeVos Sr. in 1959, which grew into a global business generating approximately $8 billion in annual revenue. Dick DeVos, who served as Amway’s president from 1993 to 2002, subsequently focused on managing the family’s investment portfolio through Windquest Group alongside his wife Betsy DeVos.

Windquest’s investment strategy encompasses direct operating company investments, private equity, real estate, and public market securities. The firm has invested in and operated businesses across multiple sectors, reflecting a family culture that emphasizes entrepreneurship and active ownership. The DeVos approach to investing favors hands-on involvement in portfolio companies rather than passive capital allocation.

The family’s most prominent sports investment is the Orlando Magic of the National Basketball Association, owned by the broader DeVos family through RDV Sports. The franchise was purchased by Richard DeVos Sr. in 1991 and has appreciated significantly as NBA team valuations have risen. The Magic organization includes the Amway Center arena and associated real estate in downtown Orlando.

Betsy DeVos’ service as U.S. Secretary of Education from 2017 to 2021 brought additional public attention to the family’s financial interests and required disclosure of investment holdings, providing a rare window into the family’s diversified portfolio across various sectors.

Private Markets Approach

Windquest Group’s private markets activity reflects the family’s preference for direct investment and operational engagement. The firm invests in mid-market companies where the DeVos family can contribute strategic guidance, board-level involvement, and access to their extensive business network in the Midwest and nationally.

Real estate is a significant component of the family’s private holdings, particularly in the Grand Rapids area where the DeVos family has been instrumental in the city’s economic revitalization. The family has invested in commercial developments, mixed-use projects, and community infrastructure that have contributed to Grand Rapids’ transformation from a manufacturing center to a diversified regional hub.

The family’s philanthropic footprint is substantial and wide-ranging. The Dick and Betsy DeVos Family Foundation and related entities have directed hundreds of millions of dollars toward education reform (particularly school choice and charter school initiatives), arts and culture, community development, and Christian organizations. The Helen DeVos Children’s Hospital and the DeVos Performance Hall are among the most visible philanthropic landmarks in Grand Rapids.

Fund managers approaching Windquest should understand that the family values entrepreneurial culture, alignment of values, and managers who demonstrate operational expertise alongside financial acumen. The family’s Midwest base and multi-generational business experience inform a practical, relationship-driven approach to investment selection.