Akshay Jeet Bhat has established new firm, First Principles Law, having left Cyril Amarchand Mangaldas (CAM) after a 20-year stint as a partner.
Bhatt told India Business Law Journal, “After two decades of working across the full spectrum of corporate transactions at a large law firm [CAM], I felt it was the right time to build something of my own.”
Bhat and his friend, Prasad Subramanyan, former general counsel at Matrix Partners, have established First Principles Law to combine “technical excellence and practical advice with the flexibility and agility” which they believe “comes with autonomy”.
Primarily focusing on early and growth-stage investments, Bhat advises both funds and founders across sectors and throughout the business life cycle. He has also worked on complex M&A transactions, matters involving listed companies, and a wide range of structuring and advisory mandates, giving him a broad perspective on corporate practice.
“Prasad and I wanted to create a firm grounded in values we care deeply about, with the core ones being fairness and quality,” said Bhat.
Bhat told IBLJ, “In this initial phase, we’ve spent time on two key aspects: first, in open conversations with clients to better understand what they value most and, second, creating the blueprint for a culture-focused legal service delivery model.”
Their clients welcomed this move. “Several long-standing clients have not only engaged us on new matters but have also referred us to others, which we view as the strongest validation,” said Bhat.
“One client told us that venture capital funds would naturally be open to working with boutique firms because it aligns with their philosophy of backing startups. That perspective was a catalyst for us in taking this step. We’ve also found that founders who have built their careers in large organisations before starting out on their own often identify with our journey, which creates a strong sense of connection.”
Bhatt adds, “While there are many boutique firms today, each brings its own strengths. The level of deal activity means clients benefit from having multiple strong options and we aspire to be among the most trusted.”
First Principles Law will be providing legal advisory services on corporate transactions, including but not restricted to private equity and venture capital investments, acquisitions and divestments.
Currently, the firm comprises two partners and six associates.
