michigan Archives - SHOPPE BLACK

Published on October 23, 2023October 24, 2023

7 mins read

Nia Batts: A Journey from Entertainment Exec to VC Supporting Detroit’s Tech Ecosystem

In this interview, Nia Batts, a General Partner at Michigan-based Union Heritage Ventures, provides insights into her journey into venture capital and her perspectives on the evolving landscape in Michigan.

With over three decades of experience in the capital markets, Nia is not only committed to driving growth in investment portfolios but also dedicated to empowering minority and women-led firms and the communities they serve.

Can you tell us about your journey into the world of venture capital?

My background is in corporate media and entertainment. I spent the majority of my professional career at what is now Paramount (formerly ViacomCBS) overseeing Strategic Partnerships and Social Impact. That work brought me back to my hometown of Detroit at a time when the city was undergoing a significant period of revitalization. When you’re from Detroit, even if you’ve only lived there briefly, it never leaves you. You carry it with you and talk about it every chance you get because you feel a responsibility to combat the dominant narrative with stories of your lived experiences.

In 2012 I helped put together a weekend with a group of friends to show our friends on the coasts what was possible in our city. We thought maybe 20 people would show up, but we ended with more than 125 participants. We named it after a mural created by youth in the Detroit Summer program: Another Detroit is Happening. Another Detroit is still happening.

I too, with my partners, Katy Cockrel and Sophia Bush, built and launched a business in Detroit, raised a pre-seed round of investment and unfortunately faced the reality of winding down a business that was not built for the economic effects of COVID that lasted much longer than expected. But that fueled the next chapter, bringing the conversation around equity for women of color from the beauty space into the investment space.

We’re currently the only African-American majority-owned venture capital firm in the state of Michigan, and we are also majority women-owned and led.

Are there any exciting trends or opportunities you’re currently observing in your focus industries within the VC space?

I’m a third-generation Michigander, so I’m long on Michigan. I also feel the same existential dread about climate change that most others my age and younger do. So I’m interested in building for the future. Not only are there great climate tech and clean energy companies coming out of Michigan, but many are diversely owned and led. One of the greatest wealth transfers in a generation is going to happen in this space, so as an investor, I’m interested in the long game.

A trend I don’t like is these grant competitions that are advertising non-dilutive capital for winners but then in the fine print you find out it’s a SAFE (Simple Agreement for Future Equity). I’ve seen this impact diverse founders especially. There needs to be more cultural competency from early-stage investors and truly value-added capital. We’re trying to be really intentional about not just critiquing the problem, but being a part of the solution, as well.

What excites you the most about Michigan’s tech and entrepreneurial landscape?

Michigan has always been a place where we make things, and we make things happen. We have shown over and again that we are a resilient and innovative community. The only place in the country that has more engineers per capita outside of Silicon Valley is Southeastern Michigan. Before there was Silicon Valley there was Detroit. If I were a betting woman, I’d say Detroit is going to Detroit again.

The other thing about Detroit and Michigan is we’re not waiting for anyone to save us. There’s an incredibly, diverse, leaderful movement of entrepreneurs here that have self-organized and are helping each other. The Black Tech Saturdays community that convenes at Newlab is really leading that charge, as well as Michigan Tech Week’s annual conference.

How can Michigan continue to build on its momentum as a tech hub, and what role do you see Union Heritage Ventures playing in this ongoing development?

We talk a lot about diverse entrepreneurs, and absolutely should. But we also need to talk about diverse allocators. So, that means everyone with a meaningful budget has to engage and participate. There has to be accountability in the system.

That means the state, corporations, and non-profits; everyone making the decisions needs to acknowledge that there is an ecosystem of entrepreneurship that doesn’t only begin and end with founders. Frankly, as venture investors, we owe a debt of gratitude to the angel community who have invested in companies and believed in founders before they had an MVP.

Without them, there is no us. I think part of our role moving forward has to be creating space for more diversity on the cap table of investments we make. How we go about doing that is an active conversation at our firm.

by Tony O. Lawson

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Published on December 8, 2018December 8, 2018

6 mins read

Two sisters opened a Bed & Breakfast in Detroit

Working with a family member even on small projects can be challenging. But imagine trying to renovate a house, decorate it and open it as a bed and breakfast. That kind of a partnership can’t work if you have sibling rivalry.

Sisters Roderica and Francina James are an example of how two siblings can work together, start their own business and support one another throughout the process. They are the owners of the Cochrane House Luxury Inn in Detroit, a new bed-and-breakfast hotel that opened in May.

These born-and-raised Detroiters aren’t hospitality experts. They don’t have a design background. In fact, they’ve never taken on a project this big before. But their mutual respect, admiration for each other’s strengths and balance of each other’s weaknesses made The Cochrane a possibility and, after six months of guests, a true success.

The bed and breakfast has three guest rooms, a homemade cooked breakfast delivered to the room, hand poured house made soap, and specialized Cochrane House candles.

The Cochrane House also has customized packages for private parties and events.The Bed & Breakfast is walking distance from all three major sport arenas and theater district in Detroit.

“We want people to come in and relax, play music, a board game or have a glass or wine. Our whole goal is for our guests to be in an atmosphere where their mind, body, and soul is relaxed.

We want our guests to have the best experience possible. When you walk into the doors you can feel the family atmosphere.” says Founder and Owner of The Cochrane House Roderica James.

Life experience
These sisters have a wide range of experience and skills that they bring to The Cochrane House. Co-Owner Francina James is a graduate of Martin Luther King Jr., senior high school. She graduated from the University of Michigan and has held various position in the educational field. She is also a graduate from Thomas M. Cooley Law School and is currently a licensed attorney.

Roderica started a nail business in high school and continued throughout college. James graduated from Eastern Michigan University and began working in education. She worked at Pepper Elementary School in Oak Park, where she started as a teacher and later on became the Student Intervention Specialist.

At 23, she began working with her mother at EduTech Tutoring Company. Noted as one of the largest tutoring companies in Detroit, she served as executive director. James then expanded the business to Atlanta, Georgia and Jackson, Mississippi where she became Southern Regional Director.

“My sister and I are 13 months apart. We went to the same elementary, middle and high schools. She went to Michigan while I went to Eastern. So we’ve been close our entire lives,” Roderica said. “Of course, we have our disagreements. But because we know each other so well, we know how to listen to each other’s ideas.”

Francina agrees. “Roderica is the whimsical one, the one with the best ideas and entrepreneurial spirit. I’d say I’m the realistic one, the logical one. Whenever she has an idea, I give her suggestions on how to bring it down to Earth a bit so we can get it done.”

A dream fulfilled
Roderica started renovations on The Cochrane House in 2013. The home was erected in 1870 for Dr. John Terry, a Detroit eye doctor who decided to build his home in the Brush Park neighborhood. He lived in this mansion only for one year, before Lyman Cochrane purchased it. In 1871, Lyman Cochrane not only occupied this beautiful home, but also was elected to represent Detroit in the Michigan State Senate.

He served for two years and was later appointed Judge of the Superior Court of Detroit in 1873. He served in that position until February of 1879, the time of his death. He took pride in scholarship and was presumed to have one of the most extensive and valuable private libraries in the city of Detroit.

With family support, persistence and patience, Roderica’s dream has come true. Just on the heels of turning 40, James is proud to have a business in the city where she grew up.

“I feel blessed and honored. My position gives other women an opportunity to see someone at my age dedicated to something for so long finally come to fruition. It’s not easy, but my journey shows other young people, if you stay dedicated and focused, you are able to do it,” says Roderica.

Source: CORP