Randall B.Schai (Randy)

Of Counsel

San Francisco + 1.415.875.5803

Randy Schai is a corporate lawyer whose practice focuses on every aspect of an investment fund's life cycle. He represents both investment funds and investors considering investing in these funds. He has experience with venture, buyout, real estate funds, and a variety of special purpose investment programs. A significant portion of his practice involves international funds and investors.

Randy's fund services practice involves the initial structuring and formation of these funds (including the structuring and formation of fund sponsors/general partners) through to ongoing operational matters culminating with the fund's liquidation and dissolution. Randy has extensive experience in representing prospective limited partners with proposed investments in a given fund or a related co-investment opportunity. Clients include The Bay Area Council, Bay City Capital, Canyon Bridge Partners, City of Hope, Kairos Partners, Key Principal Partners, Morgenthaler Ventures, NTUC Income Insurance Cooperative, Oklahoma Gas & Electric, Paul Capital, The Riverside Company, SpringHill Enterprise Development, and Uprising Investors. Clients also include several major Russian private banks, the private equity arm of a global sovereign investor (with respect to venture, buyout, real estate investment fund and direct investment opportunities), a major German landesbank, and a major Japanese automobile manufacturer.

Randy is a frequent public speaker and author on issues of importance in the investment fund industry. He has presented to The Capital Roundtable, the Wharton School of Business, and the State Bar of California. Randy is a current executive member of the American Bar Association's International Private Equity Committee and a past executive member of the Corporations Committee, Business Law Section, State Bar of California.

Experience

  • Student activist from Venezuela obtains asylumJones Day obtained asylum on behalf of K.P, who, at the age of 20, was forced to flee Venezuela because he opposed the Venezuelan government and its president, Nicolás Maduro.
  • Kairos Society PBC, Inc. forms Kairos Investors Fund II, L.P.Jones Day represented Kairos Society PBC, Inc. in connection with the formation and fundraising of Kairos Investors Fund II, L.P., a $100 million fund.
  • RPS Ventures I, L.P. forms fund to invest in high-growth technology opportunitiesJones Day represented RPS Ventures I, L.P. in connection with the formation of a fund to invest in high-growth technology opportunities.
  • Chapman University obtains advice regarding investment in LL Capital Partners I, L.P.Jones Day provided advice to Chapman University, a mid-sized private university, regarding an investment in LL Capital Partners I, L.P.
  • Angeleno Group invests $50 million in SoraaJones Day represented Angeleno Group, LLC in connection with its purchase of $50 million of Series 3 Preferred Stock in a private placement by Soraa, Inc., a manufacturer of LED products made from gallium nitride substrates.
  • Global fund invests in Sequoia Capital China Growth Fund IV, L.P.Jones Day represented a global fund in connection with its investment in Sequoia Capital China Growth Fund IV, L.P.
  • Global fund invests in Sequoia Capital China Ventures Fund VI, L.P.Jones Day represented a global fund in connection with its investment in Sequoia Capital China Ventures Fund VI, L.P.
  • Global fund invests in DoorDashJones Day represented a global fund in connection with its purchase of Series C Preferred Stock in a private placement by DoorDash, Inc., an on-demand restaurant delivery service.
  • Global fund invests in Lightspeed Venture Partners XIJones Day represented a global fund in connection with its investment in Lightspeed Venture Partners XI, L.P.
  • Global fund invests in Lightspeed Venture Partners Select IIJones Day represented a global fund in connection with its investment in Lightspeed Venture Partners Select II, L.P.
  • Global fund invests in Founders Fund VIJones Day represented a global fund in connection with its investment in Founders Fund VI, L.P.
  • Angeleno Group purchases $15 million of Convertible Notes in SoraaJones Day represented Angeleno Group, LLC in connection with its $15 million Convertible Note financing to Soraa, Inc., a manufacturer of LED products made from gallium nitride substrates.
  • Uprising Management forms Uprising Investors Fund I, L.P. and Uprising Investors Opportunity Fund I, L.P.Jones Day represented Uprising Management LLC in connection with the formation of Uprising Investors Fund I, L.P. and Uprising Investors Opportunity Fund I, L.P., a venture capital fund.
  • Uprising invests in Good EggsJones Day advised Uprising Management LLC in connection with the purchase of Series C Preferred Stock in a private placement by Good Eggs, Inc., an online farmers market.
  • Drive Capital forms Drive Capital Fund I, L.P.Jones Day advised Drive Capital, LLC in connection with its formation of Drive Capital Fund I, L.P., a venture capital fund investing in technology start up companies based in the Midwest.
  • Riverside forms Riverside Europe Fund IVJones Day assisted The Riverside Company in its formation of Riverside Europe Fund IV, a leveraged buyout fund focusing on companies headquartered in Europe.
  • Global asset management company invests in International Meal CompanyJones Day represented a global asset management company based in Asia in connection with a private placement among institutional investors of over US$100 million in International Meal Company Holdings Ltd., the largest retail food concessionaire and multi-brand casual dining chain in Brazil.
  • Bay City Capital fund invests in AltheosJones Day advised Bay City Capital Fund V in connection with its purchase of $20 million of Series A Convertible Preferred Stock in a private placement by Altheos, Inc., an early-stage biopharmaceutical company.
  • Bay City Capital and Panorama Capital invest in Hyperion TherapeuticsJones Day counseled Bay City Capital and Panorama Capital in connection with their purchase of $60 million of Series C Convertible Preferred Stock, along with Highland Capital Partners, NEA, Sofinnova Ventures, and WRF Capital, in a private placement by Hyperion Therapeutics, a privately held specialty biopharmaceutical company.
  • Bay City Capital fund invests in DxConJones Day advised Bay City Capital Fund V in connection with its purchase of $4.7 million of Series A Convertible Preferred Stock in a private placement by DxCon, Inc., a pharmaceutical company.
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