Feel free to underestimate Sophia Bush and Nia Batts at your own risk. They’ve endured it all before. Indeed, Batts became one of the youngest Black executives ever at a major media firm. Certainly, Bush achieved fame through roles in series like One Tree Hill and Chicago P.D., evolving into a multifaceted professional in the process. These women are not just celebrities; they are also pioneers, entrepreneurs, and consultants, establishing themselves in the angel-investing landscape. And yet, they have faced skepticism regarding their knowledge and backgrounds at every turn.
“Particularly as an actress, being underestimated is something I’ve grown accustomed to, and I find it quite amusing,” Bush remarks, a playful grin dancing on her face. “I believe being underestimated can serve as significant motivation.”
After establishing an inclusive salon and related charitable organization in Detroit in 2017, their upcoming venture (they both serve as advisers to First Women’s Bank) embodies years of philanthropic and business experience. Located in Chicago, it stands as the very first women-led bank in the United States: founded, owned, and operated entirely by women.
It’s challenging to be a woman in the entertainment industry, just as it is equally tough to navigate the world of finance. Sophia Bush and Nia Batts are well aware of these challenges.
So feel free to underestimate them.
They are seasoned veterans, prepared to turn the tables on your assumptions.
Nia Batts was raised in Detroit, coming from a teaching grandmother and a postal carrier grandfather. Her father was a professional investor who managed pension funds, which inspired her early interest in securing families’ futures beyond their own.
“I realized that money represents power; it also ensures security and provides choices,” Batts explains. “My parents consistently emphasized the importance of equipping me to live a rich life by maximizing my options.”
Bush grew up in Los Angeles, where we find ourselves today, having a conversation under the warm light of an industrial loft. She hails from an immigrant father and a mother who spent her early years in a Bronx housing project. Like Batts, she understood from an early age the potential of money to create possibilities for a family, “although it was not something that was plentiful in our family’s narrative,” she shared.
The two met the traditional way—at least for women in philanthropy within the entertainment industry before social media took hold. At a social impact conference, Batts became aware of Bush because she frequently raised her hand to contribute her thoughts. Arriving a bit late, she asked to borrow Bush’s notes.
Years on, they have become the kind of best friends one hopes to find in adulthood, perfectly aligned personally and professionally. The duo—Bush and Batts—sounds right together, reminiscent of Thelma and Louise or Laverne and Shirley. (It would also serve as an excellent name for a formidable law practice.) Despite Batts being based in Detroit and Bush residing in Los Angeles, they prioritize their friendship and make frequent trips to see each other, even when journalists, photographers, and a team of stylists are present.
“What makes our connection special is that we met with a shared purpose; we came together where people aimed to make a positive impact on the world—long before Instagram and any trend associated with it,” Bush notes.
As the years have passed, their friendship has flourished, rooted in that shared mission and an innate curiosity about their surroundings. Their combined experiences in entertainment—Batts behind the curtain as an executive at Viacom and Bush in the spotlight—have provided them with a common perspective on the world’s many inequalities.
However, despite their similarities, Bush often acts as a complement to Batts’ characteristics. When prompted to share their individual strengths, they choose instead to highlight one another’s talents. Bush turns towards her friend and responds: “You possess such an incredibly analytical mind,” she tells Batts.
Bush teasingly refers to Batts as her work wife, with Batts sharing a lot in common with Bush’s actual husband, Grant Hughes—both exhibit systemic thinking abilities and an organized thought process. Bush married Hughes over the summer in Tulsa, Oklahoma, and Batts, along with her husband Patrick Linder, was present in the wedding photos published in Vogue. (In fact, Bush used her wedding as another platform for activism, choosing to host it in Tulsa and organizing historic tours led by community figures and cultural organizations as part of the celebration.)
Bush showcases more creativity as a visionary, whereas Batts displays her own creativity in support of Bush’s ideas. “I often say, ‘We should kick off this campaign! And here’s the storytelling approach! And this is the tagline!’” Bush laughs. “Then she’ll reply, ‘Wait one second. I need to crunch the numbers.’”
“That’s one of the qualities I so admire about you,” she states, addressing her friend again, “that makes me feel supported and teaches me as well.”
Both women comment on their bond, highlighting the staunch support they offer each other. Batts notes the ease with which they discuss anything openly. “Coming from the entertainment realm—it’s often a world of façades,” she states. “We can be completely genuine with each other.”
That candidness has prompted them to confront some challenging subjects together. For instance: Why is it so hard for two women—one Black and one white—to receive hair services at the same salon? Why should two best friends be unable to sit next to each other in styling chairs?
In 2017, these inquiries led Batts and Bush to collaborate on their first spotlight venture: Detroit Blows. This inclusive finishing salon provided a space for anyone to receive hair treatments and featured its philanthropic initiative, Detroit Grows, aimed at aiding other entrepreneurs in Detroit. Though the salon closed due to the pandemic, it paved the way for a new investment opportunity: First Women’s Bank.
Batts exudes a calm, composed demeanor that makes her a natural fit for boardroom discussions. Yet, her passion ignites when she shares eye-opening statistics regarding women, authority, and accessibility in venture capital.
“Fewer than 10% of general partners at venture capital firms are women,” she clarifies. “We have $83 trillion in assets under management, yet 98.6% of these resources are controlled by white men. Interestingly, they don’t even represent the highest-performing group among investment managers.”
In case Batts hasn’t yet fired you up, here are more statistics: In 2020, only 2.6% of venture funding went to Black and Latino founders, as reported by Crunchbase data. Within the venture capital community, 58% are white men, and 11% are white women; merely 2% are Black males, while only 1% are Black females.
“It’s telling that women found 42% of small businesses, yet they only utilize around 6% of available lending for their enterprises,” Bush shares. “Women tend to be more analytical in approach. We’ve faced greater stumbling blocks in borrowing and have less access to enter those critical rooms.”
Throughout the years, Batts and Bush recognized how much remains unspoken in polite circles, especially surrounding money, and how this financial secrecy ultimately harms those at a disadvantage. Early in their friendship, Batts explains how their distinct experiences in various media fields sparked questions about why, although money seemed abundant, so little was accessible to artists and entrepreneurs, particularly those of color.
They sought to gain a deeper understanding of money, driven by the belief that while stories hold great significance, the most substantial barrier—which often remains guarded by gatekeepers—was the issue of access. “How could we start making investments? How could we fund philanthropic efforts? How could we bring awareness to financial equality in environments where women in entertainment didn’t typically engage in these discussions? That quest has defined our journey together,” Bush states.
Among the realizations they reached was recognizing that their investment dollars could have a much greater impact in cities like Detroit, Chicago, and Tulsa. As an executive, Batts was accustomed to signing substantial checks for major philanthropic endeavors. But they questioned, what if they wrote checks of $5,000 or $10,000 instead? What if these smaller amounts were directed towards local initiatives, like those in Batts’ hometown (and one of Bush’s special places) of Detroit?
“Countless individuals and locales are worthy of greater attention and access,” Bush states. “This is precisely how we perceive financial equity—the more opportunities you provide, the more growth you foster, benefitting everyone involved, rather than diminishing opportunities for any one individual.”
Batts mentions how successfully networking in these underexplored areas has attracted investors eager to learn about their initiatives and keen to understand who they should be connecting with in less traveled regions.
With First Women’s Bank, they are specifically developing a network of some of the top financial thinkers to equip women in business with essential tools and educational programs. As advisers, they find themselves among an influential group, which includes individuals like Leah Bradford Francis from the Bill & Melinda Gates Foundation; Margaret M. Mueller, who leads the Executives’ Club of Chicago; and Angela Miller-May, the chief investment officer at the Illinois Municipal Retirement Fund.
Soon, the bank plans to provide customized training for female business owners, as well as mentorship and networking events, both virtually and in-person, alongside enlightening and uplifting content. Their vision extends beyond merely being a bank—though this is revolutionary in itself—aiming to foster a supportive community specifically targeted at nurturing the economy and enhancing women’s roles within it.
“As women involved in business, especially finding friendship in our mid-twenties, we understand what it means to be overlooked,” Bush expresses. “Our goal is simply to say, ‘Look at us!’ and to assist others in doing the same.”
“We aspire to not be the only two unique individuals in the room,” she adds. “We seek a growing number of representation that reflects us and our thoughts in those spaces. These are pathways we are deeply committed to fostering.”
Shifting influence and accessibility, altering who occupies the table—none of this occurs without obstacles and unwavering persistence. It stands true that money equates to power, and individuals tend to cling to that power.
“Being mission-driven signifies a commitment to investing in sustainability,” Bush asserts.
They’ve witnessed numerous people dipping their toes into investing, seeking immediate gains and quick returns. But that has never been their approach.
Bush embarked on her first Obama campaign back in 2007; however, it wasn’t until 2021 that she received a call from the former head of the Small Business Association under Obama, who said, “I’d like to discuss First Women’s Bank with you.” That reflects 15 years of volunteer efforts—all grounded in conviction—that eventually led to this growth opportunity.
Batts and Bush have consistently believed in the significance of doing the right thing for genuine reasons, which is why they’re able to recognize the potential in places like Detroit, Tulsa, and the communities they cherish. Much of their work isn’t financially focused—often, no funds change hands. Instead, it revolves around altering access to capital, determining who needs resources, who can provide them, and refining connections that serve both.
Consequently, investors increasingly view these communities as fertile economic landscapes brimming with potential. “What once was merely a moral imperative is now regarded as an astute business decision,” Batts asserts. “It reinforces the principle: Engage in ventures for the right reasons, pursue endeavors with integrity, and ultimately, everyone benefits.”
“If our business ventures flourish alongside our activism, it sends a powerful message to skeptics that perhaps they should consider a mission-driven perspective as well,” Bush concludes.
While the road has been long and fraught with challenges, it has undeniably been rewarding.
“Early on in our advocacy journey, I believed everyone would have grasped this by now,” Bush reflects. “Instead, I recognize how deeply entrenched conflicting narratives are.… It has fostered a greater patience in me and has reinforced my commitment to replacing outdated structures with modern, effective alternatives.”
Batts and Bush stand steadfast in their belief that through their approach to investment—doing more with less, trusting instinct, and investing with empathy—they’ll persist in seeking out those overlooked, undervalued, and underrepresented entrepreneurs, providing them with the means to thrive.
“At times, you must step out into the world and validate your beliefs through action,” Bush comments. “I relish the experience of being underestimated. So, when others say, ‘I’ve been underestimated,’ I can’t help but respond, ‘Do you want to join me in changing the narrative?’”
