Prasad Subramanyan (L) Akshay Jeet Bhat (R).
First Principles Law: Former Cyril Amarchand Mangaldas Partner, Matrix Partners GC Launch Boutique Law Firm: Mumbai – In a significant development for India’s legal landscape, former Cyril Amarchand Mangaldas (CAM) Partner Akshay Jeet Bhat and former Matrix Partners General Counsel Prasad Subramanyan have announced the launch of a new boutique law firm, First Principles Law.
The firm is set to specialize in corporate transactions, with a particular focus on private equity and venture capital investments, as well as acquisitions and divestments. First Principles Law is launching with a team of two partners and six associates.
Akshay Jeet Bhat, an alumnus of NUJS (National University of Juridical Sciences) with two decades of experience, was a Partner at Cyril Amarchand Mangaldas until May 2025. His extensive transactional experience includes advising on major deals such as Tata Electronics’ acquisition of Wistron and investments and exits from prominent companies like BoAt, Cred, Ola Electric, and Mamaearth.
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“I’m excited to begin this new chapter in my professional journey,” Bhat said. “With First Principles Law, we aim to address a real gap in the legal services landscape, especially in venture capital, private equity and mid-market transactions. We also hope to build a firm that consistently attracts exceptional legal talent—a place where professionals can do impactful work in an environment that supports their growth.”
Prasad Subramanyan brings over a decade of transactional experience to the firm, having served as a Partner at Rajaram Legal (now River Law) and as the Head of Legal at Matrix Partners. His practice areas include venture capital, private equity, and strategic M&A transactions.
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Subramanyan shared his vision for the new venture. “After years across leading law firms and as in-house counsel, I felt a strong urge to build something different—something that truly reflects the values I’ve long believed in,” he stated. “With First Principles Law, we’re creating a firm from the ground up, focused on quality, fairness, and client-first service.”
The founding partners, in their previous roles, have advised on transactions involving major institutional investors, including Accel, Alpha Wave, Bessemer Venture Partners, Fireside Ventures, and Peak XV (formerly known as Sequoia Capital India). Their experience also includes advising on investments into and exits from high-profile companies such as Bigbasket, Bombay Shaving Company, Delhivery, Urban Company, Darwinbox, and VerSe (Dailyhunt).
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