Ayrron Charles, 30, of Lea Hall Gardens, Waltham Forest, was given seven years in prison.
They were both found guilty earlier this month of robbery and possession of an offensive weapon.
The court heard how the pair ambushed the victim as he returned to his Leyton home on February 9 in 2019.
Charles demanded the man gave him money and threatened him with a machete when he refused.
Fraser, aged only 16 at the time, then snatched £5,700 from the victim as the pair tried to make an escape.
But the victim fought back – tackling Charles to the ground and knocking his mask off.
He kicked Fraser off his getaway bike, breaking the bike, making Fraser drop a machete sheath and phone.
The victim’s wife then came to the door because of the commotion and the robbers punched them both to the floor, jurors heard. They pointed something that looked like a gun at them before escaping.
Police first identified Charles and Fraser after their DNA was found on the phone dropped at the scene.
They discovered the pair were talking to each other before and after the robbery and that Charles was slowly depositing money into his bank account. Fraser also deposited a large sum of money on an expensive watch.
The pair had denied robbery and told the court they were in fact drug dealers.
Fraser also confessed to drug offences at an earlier hearing after officers found two golf ball-sized wraps of white powder in his bedroom while conducting an arrest enquiry for breach of bail conditions.
Fraser originally claimed one was baking powder but it was heroin, worth £760 at street value.
Messages on his phone indicated he was supplying Class A drugs between July 25 and August 12 last year, police said.
Detective Constable Aaron Barnes-Weston, the investigating officer from the North East Area’s Gangs Unit, said the public were now safeguarded from two “very violent individuals”.
“The victim showed great courage and character in defending himself, his family and his property during the incident whilst also identifying the offender during identity procedures and supporting police giving evidence,” he said.
“While it was a terrifying ordeal, thankfully neither the victim nor his wife were seriously injured during the incident.”