Upcoming visits from big venture capital fund managers could spell good news for Detroit.
Excerpt:
It may not be as sexy or funny as Jay Leno coming to town to lift spirits in these trying times, but an upcoming visit to Detroit this month by venture capital and private equity fund managers is also a bright spot worth noting.
Credit Suisse, the global financial group, is bringing nearly 300 people to Detroit April 20 and 21 for its 2009 Private Equity Conference on Small & Emerging Managers and In-State Investments. How's that for a mouthful?
The aim, says organizer Kelly Williams, is to talk about innovative things that small and emerging fund managers, those with less than $1 billion to invest, are doing, and to shine a spotlight on promising companies that might be good investments.
Why come to Michigan in these gosh-awful times? The first two Credit Suisse conferences for this group were held in Los Angeles and Houston, places perceived to have more dynamic economies.
"We don't perceive any additional risk or greater risk in Michigan than anywhere else, with the kind of investments we're making in early-stage companies," says Williams, managing director and cohead of the Customized Fund Investment Group at Credit Suisse.
Read the rest of the Detroit Free Press story
here.
Enjoy this story?
Sign up for free solutions-based reporting in your inbox each week.