Managing Directors

Lee Bailey

Mr. Bailey is a Managing Director based in Los Angeles and serves as one of the Firm's two Managing Partners. Prior to joining USRG, Mr. Bailey was a partner with Rustic Canyon Partners ("Rustic Canyon") where he focused on investing in energy based companies. Mr. Bailey started his career as a lawyer and then held several senior management positions with Energy Conversion Devices, Inc. (NASDAQ: ENER), an energy technology development company. He has over 15 years of operating experience in technology-based companies, fund management and government service, primarily in the areas of energy and IT. Prior to joining Rustic Canyon, Mr. Bailey was the founding director of a $60 million joint U.S.-Israeli government fund. Mr. Bailey also served as the White House Director for International Science and Technology Commercialization Programs from 1995 to 1997, where he represented the U.S. government in promoting its strategy of privatization and commercialization of technology developed in Russia, Egypt, Israel and South Africa. In addition, Mr. Bailey has served as the CEO of several start-up companies, including the Rural Health Care Corporation.

James Mcdermott

Mr. McDermott is a Managing Director based in Los Angeles and one of the firm's two Managing Partners. Mr. McDermott has operational control of the firm's day-to-day activities. Prior to forming USRG, Mr. McDermott started his career as a public power banker with First Boston's Municipal Finance Group in New York. While at First Boston, he worked with Southern California Public Power Authority, Los Angeles Department of Water and Power, Washington Public Power Supply System and several other West Coast municipal utilities and investor owned utilities. As a private equity investor, Mr. McDermott worked for Prudential's Private Capital Group and Allen & Company. As an entrepreneur, Mr. McDermott has started, run and invested in the following companies:, Inc. (NASDAQ: STMP) (Founder and CEO), Spoke Software, Inc. (Founder and CEO), Archive, Inc. (Founder and CEO), Practice Technologies Inc. (Investor and Board Member), NanoH2O, Inc. (Founder and Board Member) and OH Energy, Inc. (Founder & Board Member).