Trace Cohen’s Playbook: How to Build a Family Office, Raise a Venture Fund, and Leverage AI for Maximum Impact

In this in-depth interview, seasoned investor Cohen shares the recipes behind his success—from using AI to streamline operations and managing family office dynamics to case studies like Tommy John

I always enjoy connecting with fellow New Yorkers. Last week, I had the chance to chat with angel investing leader David S. Rose—who, fun fact, happened to be the very first boss of none other than Trace Cohen.

Sometimes, the world of connections feels like bumper-to-bumper traffic. If you check out the photo above, you might recognize the vibe—it’s classic 'Monday morning, heading to work' energy, a pose every New Yorker knows well.

Trace Cohen and I share quite a bit in common—both proud New Yorkers and Jewish. Like Trace, who grew up in a PR firm family, I found my footing in tech at the PR firm LaunchSquad before making my pivot to finance. It’s rare that I get to speak with someone who has their foot in three different world - family office, VC and PR. Read on, and soak up what he’s learned.

The Art of Cultivating Deals and Relationships

Building meaningful relationships and cultivating deals in venture capital is a nuanced process that demands a blend of personal connection, strategic thinking, and technological efficiency.

"Time is your most precious resource," Cohen said. His approach to deal-making reflects this principle, with a sharp focus on optimizing every interaction while fostering authentic connections.

Cohen emphasized the importance of founders in early-stage investments.

"At the pre-seed and seed stages, it’s really a founder bet. Execution is everything," he explained. For Cohen, the ability to assess founder dynamics—how they collaborate, pivot, and stay motivated—is central to his decision-making.

Personal networks play a pivotal role in his strategy.

"We’re boots on the ground," he says of his family office. Leveraging relationships built through his father’s tenure as chairman of the New York Angels, Cohen has access to a robust pipeline of vetted startups.

Education is another cornerstone of his approach, particularly when working with family offices new to venture capital.

"I tell them, if you're investing directly in a company, expect to lose that money," he said.

By demystifying the risks and rewards, Cohen ensures his partners are prepared for the realities of early-stage investing.

Cohen also employs advanced tools to streamline relationship management.

"I meet somebody, text the details to my CRM, and have an entire workflow to capture follow-ups and tasks," he explained, describing how AI tools like ChatGPT and Zapier enhance his efficiency.

Creating exclusivity is another hallmark of Cohen’s methodology.

"Tell people you’re not raising capital, and they’ll want in because it’s something they can’t have," he advises, highlighting the psychological factors at play in deal cultivation.

Cohen’s ability to quickly evaluate opportunities is another key asset.

"I’ll give founders 10 bullet points: the background, competition, valuation, and public comps," he said, reflecting his deep industry expertise and ability to provide immediate value to partners.

By blending these strategies, Cohen has built a track record of success, with investments in companies like Pinterest, Tommy John, and Comixology. (I’m a huge mid-60s Marvel Comics nut, don’t even get me started. I can hang and talk ‘60s Marvel and ‘70s metal all night.)

In case you didn’t know, Cohen’s father, Brian, was the first investor in Pinterest.His approach underscores that successful deal-making is as much about relationships as it is about returns.

"We just debate. It’s a lot of conversations, and it’s a lot of fun," he says.

Why Every Startup Is a Family Business

Trace Cohen’s journey into venture capital is deeply rooted in his upbringing within a family business. Growing up, entrepreneurial discussions were woven into his everyday life. His parents built and sold a successful tech PR agency.

“Dinner was as much about deals as it was about dessert,” Cohen recalls.

Today, he co-leads New York Venture Partners with his father, continuing the family tradition of blending personal dynamics with business strategy. Their investments span previously mentioned industry leaders like Pinterest and Comixology, with a focus on startups in the U.S. and Israel.

Cohen credits their collaborative approach—leveraging diverse perspectives across his family—as a cornerstone of their success.

“Whether it’s my father, siblings, or me, we bring different perspectives to every deal. That diversity of thought is our strength.” He also draws inspiration from his parents’ business:

“My dad was the visionary, while my mom ran ops. Their yin-and-yang dynamic became a blueprint for everything I’ve done since.”

This story shows how trust, collaboration, and complementary strengths—values cultivated in his family—can drive success in both family offices and startup ecosystems.

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What follows below is the full transcript of the interview for download, as well as the rest of the interview. Cohen also describes how his family office uses AI, and speaks to which tools he uses in his team’s AI workflows.

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Coming Soon: In the coming weeks we have investor interviews scheduled with Floodgate’s Mike Maples, Regent Bank’s Peter Mullen, and our very first international IR piece with Ferrovial’s Ricardo Jimenez Hernandez!