NYA Member Spotlight - Brian Cohen

Brian Cohen served as New York Angels’ chairman for 10 years from 2009 to 2019. He has been a member of NYA for “forever”, as he describes. He was one of NYA’s early members and has seen the group grow from 30 members to now, 136 members and counting. He has a deep appreciation for the relationships, both professional and personal, he has cultivated during his many years as a member of this professional Angel group. He was kind enough to take the time to answer a few questions about what motivates him to continue to be a strong presence in the startup community, what founders should think about when approaching investors, and a big investment trend he’s seeing now that the economy is opening back up.

New York Angels Chairman Emeritus, Brian Cohen

What first attracted you to join a formal network for Angel investors?

The New York City startup community had been a central part of my life since the mid 70’s. I had the honor of creating, building, selling and advising science and technology companies for more 35 years. Frankly, there was nothing more personally and professionally fulfilling than helping many of these companies succeed. My own businesses had in fact helped many of these companies, including major enterprise firms such as Sony and IBM and newer firms (at the time) like Schwab and Bloomberg chart their new digital paths. New York was at a very opportune time in its desire to rival the growth of Silicon Valley and I wanted to make a difference in helping fund the most exciting new founders and build a coalition of government, education and finance organization to help this happen.

What did you do before you were an investor and how has that experience shaped your own investment thesis?

I started and helped build the earliest computer technology publications as well as the very first technology PR/Marketing firm in the United States. Without question the power of investigative journalism and the ability to translate the new technology world into laymen language gave me a clear ability to filter the opportunities for investment and support counsel for young first time founders. Tech was my first language and having started and exited my own firm also provided me with the emotional and operational experiences to share with these founders.

What can founders expect from the Angel investor/founder relationship?

First and foremost a clear commitment to provide trusted insights and business connections. Angels certainly must want to make money but that only happens when their investments succeed. The alignment of these common interest with the founders drives a long-term positive relationship.

What is one of the best investments you made with the NYA?

Pinterest. I met the founder at an NYU business plan competition and wrote his very first check as well as helped him win the competition.

What do you look for in a pitch? In a founder?

The very first think I ask founders to do in their pitch is to talk from the heart and tell me what they “believe.” Once I agree with the premise of this belief, I can then listen carefully to the strength of their vision and how they will execute their mission.

How do you spot a good founder?

I look for great founders not just good ones. There’s a huge difference. Making this determination is a combination of many factors such as leadership skills, collaboration desires and a realistic but deeply insightful understanding of the needs of their customers.

What makes a good Angel investor?

There are many types of Angel investors but very few who live it as a professional. These special angels make it their business to be highly visible in the startup community so that their expertise and money are more available to founders. They always look to understand the needs of the entrepreneur first.

What advice would you give a founder who is about to apply for funding at NYA?

They need to be in the investor raising business and not the money raising business. They should review the members backgrounds and reach out to those that can more mutually share the vision and vision and make them their champions. They should make sure they practice answering the toughest questions about their business.

What advice would you give to founders who have never fundraised before and do not have strong connections to Angel investors?

Read my book “What Every Angel Investor Wants You To Know” as well as every article they can find so that they are able to ask very intelligent questions.

Have you noticed any investment trends happening now that the economy is opening back up?

Huge interest in Wellness as the population gets older.

What do you think your strength is as an investor and member of the New York Angels?

It’s been called radical transparency. We ask as many hard questions as possible.