Our Founders
Daniel Freier, FSA and Randall Herman, FSA are both healthcare actuaries. They began working together in 1982 at Deloitte, where they helped build the managed care consulting practice. For the next eight years they provided actuarial and financial advice to over 75 emerging managed care organizations. Many of their clients grew into industry giants, including UnitedHealth Group. In 1990 Dan and Randy started their first business, the actuarial firm Reden & Anders (which eventually became the actuarial practice of Optum). They went on to start four other successful health related businesses. They formed Pine Grove in 1999 to provide advice and financing to healthcare early stage and start-up companies. |
Our Services
We work closely with founders of innovative companies, providing seed capital and advice. We typically invest $50,000 to $500,000 in early stage companies, but have tapped our angel network for financing up to $3 million. We are active investors, usually sitting on the board of directors, assisting with business development and occasionally providing interim management support. As of 2021, eleven of our portfolio companies have sold generating over $200 million in value to founders and shareholders. |