YPSILANTI ? One of the most influential women in U.S. finance, who also happens to manage $600 million in Michigan venture capital funds, said the state has distinct advantages over more traditional investing havens making Michigan a compelling place for Venture Capitalists.

Kelly Williams, who leads Credit Suisse?s Customized Fund Investment Group, with some $30 million under management, delivered her remarks at the opening keynote address for the 32nd annual Michigan Growth Capital Symposium on May 21. MGCS is the Midwest?s largest university venture capital conference.

Williams said Michigan advantages include strong universities and research centers, a lower cost of living, and lower costs for talent and real estate. She said Michigan, an entrepreneurial hot bed a century ago, has returned to its roots and now embraces a culture of risk taking. The state also has built a strong network of Angel investors, as well as developed a network of start-up veterans who were backed by investors and now serve as mentors and board members for other start-ups backed by private equity finance.

Williams also cited the state?s bipartisan efforts, since the late 1990s, to boost venture investment. Those efforts were born under the Republican Engler administration, expanded under Democratic Governor Granholm, and have reached fruition under current Gov. Rick Snyder, another Republican. Even more remarkable, all these efforts were approved by state legislature controlled by both parties.

Since 2001, 13 Michigan-based venture funds have been established with $1 billion in assets, and nine VC companies based elsewhere have opened Michigan offices. Another dozen new venture groups are forming in the state.

Another rarity is Michigan has a governor and state treasurer, Snyder and Andy Dillon, who are both VC industry veterans, as are many Michigan Economic Development Corp staffers.

Williams said Michigan is one of the few states to continue to grow its VC industry. Last year, Michigan venture capitalists backed 47 deals, up from 30 in 2011. As such, Michigan ranked 15 in 2012 for number of VC deals done, up from 25th the year before.

What?s more, Williams said Michigan has a ?unique collection of individuals who are willing to fund at the early stage, like Dan Gilbert,? founder of Rock Financial and Quicken Loans. Gilbert also funds the Detroit Venture Partners, and created Bizdom U, a training ground for start-ups in both Detroit and Cleveland.