Though cold emails shouldn’t be your primary mechanism for getting new members. It can be a nice supplement, to get the word out, but I’d put focus on a more personalized approach.

If you are planning to invite potential users with cold emails I would advise you to:
✦Setup your community with a proper structure
✦Create initial and powerful content
✦Invite a friend and your close network as early adopters to support you in content generation
✦Invite influencers in your field to activate them later on
✦Use personal and direct messages informing the benefits the members will get by joining your community
✦Use cold emails together with a social media strategy