Prior to co-founding 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: Stamps.com, 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 and Board Member).
Mr. McDermott is active in the management of Fulcrum BioEnergy, Inc. (Founder and Lead Investor), SolarReserve, Inc. (Founder and Leader Investor), Common Assets, LLC (Founder and Lead Investor), SET Technology GMbH & RTS. Mr. McDermott holds an MBA from the Anderson School at UCLA and a BA in Philosophy from Colorado College