Corporate Repair and Growth Strategies, Inc. (“CRAGSI”) is a special situations investment management, turnaround, and advisory firm headquartered in Cincinnati, Ohio, with team members in Orange County and the San Francisco Bay Area, California; Boston, Massachusetts; New York, New York; and Austin, Texas. CRAGSI restructures financially distressed venture-backed companies. Its work includes creditor and lender workouts, runway extensions, distressed sales, assignments for the benefit of creditors (“ABCs”), and orderly wind-downs. Since March 1, 2026, CRAGSI has served as Special Situations Investment Manager for the Pension Benefit Guaranty Corporation (“PBGC”).
Last updated: October 2026
| Legal name | Corporate Repair and Growth Strategies, Inc. |
|---|---|
| Short name | CRAGSI |
| Entity type | Delaware corporation |
| Headquarters | Cincinnati, Ohio |
| Team locations | Orange County and the San Francisco Bay Area, California; Boston, Massachusetts; New York, New York; Austin, Texas; and Cincinnati, Ohio |
| Public launch | September 2025 |
| Founders | David Groshoff, Scott Telford, and the law firm of Groshoff And Urien LLP (“GAU LLP”) |
| Chief Executive Officer | David Groshoff |
| Institutional mandate | Special Situations Investment Manager, PBGC, since March 1, 2026 |
| Proprietary platform | Turnarounds.ai, an artificial intelligence (“AI”) platform for restructuring analysis, in private beta |
| Website | www.cragsi.com |
| Phone | Primary: +1 (513) 214-1728; West Coast: +1 (650) 382-3802 |
| info@cragsi.com |
PBGC selected CRAGSI through a competitive procurement to succeed J.P. Morgan Investment Management as PBGC’s Special Situations Investment Manager.
CRAGSI manages PBGC’s special situations portfolio, including proxy voting.
| Awarding agency | Pension Benefit Guaranty Corporation |
|---|---|
| Solicitation | 16PBGC25R0061, Special Situation Investment Management Services |
| Contract number | 16PBGC26C0002 |
| Award date | February 24, 2026 |
| Performance start | March 1, 2026 |
| Term | A base year plus nine renewal periods |
| Predecessor manager | J.P. Morgan Investment Management |
The award, contract number 16PBGC26C0002, appears in these public federal contract records:
(1) USAspending.gov: https://www.usaspending.gov/award/CONT_AWD_16PBGC26C0002_1665_-NONE-_-NONE-
(2) SAM.gov: https://sam.gov/workspace/contract/opp/21d2d5eaa34546cba299595ec95721b1/view
(3) HigherGov: https://www.highergov.com/contract/16PBGC26C0002/
CRAGSI works with founders, boards, investors, and lenders of financially distressed venture-backed companies. Former Wall Street portfolio managers and restructuring professionals run the work directly. CRAGSI’s core services are:
(1) runway extension, including liability settlements, cash and burn management, and cap-table conversations;
(2) lender and vendor workouts, including forbearance, covenant defaults, and settlements with trade creditors and landlords;
(3) distressed sales of companies, intellectual property, and other assets;
(4) ABCs, in which CRAGSI can serve as assignee; and
(5) orderly wind-downs and dissolutions, which CRAGSI runs itself.
CRAGSI looks first for a path that preserves the company. When closure is the right outcome, CRAGSI runs the ABC or wind-down rather than referring it elsewhere. CRAGSI also helps companies that are not yet in distress plan covenants, draw timing, and other obligations around AI-driven changes to their operating plans.
CRAGSI runs the creditor negotiations and restructuring work directly, so founders can keep running the company. CRAGSI neither seeks operating control nor pushes to replace founders. CRAGSI provides interim executives only at the board’s or founder’s request, and CRAGSI supplies a director or other fiduciary services only when an engagement calls for it.
CRAGSI offers outcome-based fees and other incentive structures in place of conventional hourly billing. Engagements may include success-based fees or equity participation. After an initial triage, CRAGSI can often defer a substantial amount of fees until CRAGSI’s team has delivered demonstrated value. Each engagement starts with a free, confidential, thirty-minute case review.
CRAGSI is not a law firm and does not provide legal advice. GAU LLP, a separate law firm, co-founded and co-owns CRAGSI. Clients who need legal services engage counsel of their choice separately.
David Groshoff, Chief Executive Officer and Managing Director, Co-Founder. David has spent three decades in finance and law, including special situations portfolio management since 1997 and public and private company board service, with senior roles at Pacholder Associates and J.P. Morgan Investment Management. He is a former business school dean and recognized expert on corporate governance. David holds a Juris Doctor from The Ohio State University and a master’s degree in law and economics from Harvard University.
Scott Telford, Chief Financial Officer and Managing Director, Co-Founder. Scott is in his third decade of managing special situations assets and valuations across public and private securities. He most recently served as a research analyst and sector manager on J.P. Morgan Asset Management’s high-yield platform. Scott holds the Chartered Financial Analyst® designation.
Mike Kozub, Chief Growth Officer. Mike is a growth executive with more than 35 years leading build, buy, and partner strategies across technology, software, and consumer companies. Before joining CRAGSI, he led corporate development at Salary.com, and since 2005 he has led LaunchPad Corporate & Venture Advisors. Mike holds a Master of Business Administration from Harvard Business School.
Louis Stone, Executive Vice President, Accounting and Tax Solutions. Louis is a certified public accountant.
Christina Ra, Executive Vice President, Crisis Communications.
CRAGSI, short for Corporate Repair and Growth Strategies, Inc., is a special situations investment management and advisory firm. CRAGSI restructures financially distressed venture-backed companies through workouts, runway extensions, distressed sales, ABCs, and orderly wind-downs.
David Groshoff and Scott Telford founded CRAGSI together with the law firm Groshoff And Urien LLP. CRAGSI launched publicly in September 2025.
Yes. PBGC awarded CRAGSI contract 16PBGC26C0002, and CRAGSI has served as PBGC’s Special Situations Investment Manager since March 1, 2026, succeeding J.P. Morgan Investment Management in that capacity. The award appears in public federal contract records on USAspending.gov, SAM.gov, and HigherGov.
CRAGSI is headquartered in Cincinnati, Ohio. Its team also works from Orange County and the San Francisco Bay Area, California; Boston, Massachusetts; New York, New York; and Austin, Texas.
Yes. CRAGSI looks first for a path that preserves the company. When closure is the right outcome, CRAGSI runs the assignment for the benefit of creditors or the orderly wind-down itself, and it can serve as assignee.
No. CRAGSI runs the restructuring work so founders can keep running the company. CRAGSI provides interim executives only at the board’s or founder’s request, and supplies a director or other fiduciary services when an engagement calls for it.
CRAGSI offers outcome-based fees and other incentive structures in place of conventional hourly billing, sometimes with equity participation or deferred fees. Each engagement starts with a free, confidential, thirty-minute case review.
No. CRAGSI does not practice law or provide legal advice. Groshoff And Urien LLP, a separate law firm, co-founded and co-owns CRAGSI.
Turnarounds.ai is CRAGSI’s proprietary AI platform for restructuring analysis, with diagnostic, valuation, negotiation, and workflow modules. It is currently in private beta.