as the recession and resulting credit crunch have forced new strategies for success.
“Instead of being so provincial, it seems everyone is working together,” Walsh says. “There’s a really neat sense that people are opening up their networks of financial buddies to one another.”
Walsh, who was born and raised in metro Detroit but has worked on Wall Street and in Seattle, says utilizing past networks is a key to Arctaris’ plans for Detroit.
“It’s really important for us to reach out and update [past networks] on what’s happening in Detroit, so they can take advantage of the opportunities here,” Walsh says. “There are so many good companies, and all this engineering talent. All the necessary parts that make a city viable are coming together, positioning Detroit for global competition.”
Before you’re tempted to think Walsh is indulging in a bit of hometown boosterism, he quickly veers closer to Gordon Gekko as he describes his role with investors.
“I’m the guy in the middle convincing the old guys with money to invest in the young guys with great ideas,” he says. “Other places are so competitive for the same few deals. Here, [Governor Rick] Snyder, [State Treasurer Andy] Dillon, and [the Michigan Economic Development Corporation’s Vice President of Capital Markets] Paul Brown are rolling out the red carpet. We don’t get that in New York or Boston.”
