Link Legal, BMR, Themis on $30m funding in app-based food chain Faasos

Tuesday, 12 January 2016 By Legally India Corporate M&A

Link Legal India Law Services advised Russia based investors Ru-Net on their $20m (Rs 134 crores) investment in app-based restaurant chain Faasos which was advised by BMR Legal.

Link Legal Delhi partner Manish Gupta and associates, Sweta Rao and Ashish Ahluwalia acted for Ru-Net.

BMR Mumbai partner Siddharth Nair and associate Hardik Bhatia acted for Faasos.

Themis Associates Bangalore senior associate Dheeraj Khanna advised the existing investors Sequoia and Lightbox which were also part of the $30m round.

Faasos is an internet based food company, currently operating in six cities in India including Pune, Mumbai, Bangalore, Chennai, Ahmedabad and Baroda. Faasos was reportedly valued at $130m-$160m (Rs 870 crore-Rs 1,071 crore reported the Economic Times, and the investors now own a combined majority stake in the startup.

Comments

anonymouse 12 Jan 2016, 14:23

+0 -1

Has Sid moved to BMR Mumbai or this a typographical error?

Scott Hall 13 Jan 2016, 05:27

+8 -0

Manish is a really hard working guy, who never got the due recognition at Luthra & Luthra

Add comment 13 Jan 2016, 06:23

+3 -0

Congrats Manish! He is one of the few lawyers who is practical in his approach and places clients expectations as priority rather than strict compliance with law.

Sequoia alias Themis 13 Jan 2016, 08:45

+5 -1

It is amazing how Themis acts for all Sequoia deals despite there being no partners left in the firm. What is more strange is that Sequoia's GC was formerly in Themis. So, it's a rather curious association between Sequoia and Themis. Am surprised that no one has yet questioned this rather entrenched relationship...

kianganz 13 Jan 2016, 08:47

+3 -4

I heard that a sophisticated investor like Sequoia basically just needs a rubberstamp by its lawyers anyway, since they have a lot of expertise in-house.

Themis offers the service very cheaply and they have a good relationship they're both happy with, so maybe that's why it's so entrenched?

Who's left at Themis? There must be at least a few partners, no?

Worthy Lawyer 13 Jan 2016, 08:53

+3 -1

@Kian - You reported about a certain Chethan joining, right and no later there was a report about him moving to AZB. Don't quite think there is a partner on board.. SAs pass documents without review? Amazing.

Rubber stem walla 13 Jan 2016, 09:39

+5 -0

..yeah...but that stamp should not be made of any brittle rubber..!

Why so concerned 14 Jan 2016, 05:27

+1 -2

@Worth Lawyer and rest: Why don't you get yourself f***d by them once on deal opposite any of those guys or may you are one of those who couldn't get their hands around his new job till now, that wasting your time trolling LI.

Sequoia GC 16 Jan 2016, 09:17

+4 -0

is behind Themis? FCPA anyone?

AbS 14 Jan 2016, 08:11

+0 -2

As a great man once remarked-'tere baap ka kya jaata hai'?

sequins for sequoia 14 Jan 2016, 05:17

+2 -1

i hv worked with themis on seq deals and they add excellent value more than many other law firms would. and congratulations siddharth, good going!

Ag 14 Jan 2016, 09:50

+1 -2

Themis has not had any partner for months now. Won't a sophisticated fund like Sequoia want a partner signing off the deal. Should something go wrong in any deal, who will be held responsible? A senior associate? Kian, how can a law firm not have a partner but still be doing deals?

kianganz 14 Jan 2016, 09:58

+4 -0

Who is held responsible in India when a law firm partner screws up? Exactly. Law firms have basically zero responsibility anyway :)

Abs 14 Jan 2016, 11:03

+1 -4

Another one, as a great man once remarked - "If you are being talked about, then surely you would be doing something great", great saying for folks at Themis to believe in now.

Rooooooooooya 16 Jan 2016, 12:37

+1 -0

*grabs popcorn*

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