We advised Tencent on its investment in Jeeves

Davis Polk advised Tencent on its participation in the $57 million Series B equity financing round of Jeeves. Led by CRV, the Series B round also includes participation from Silicon Valley Bank, Alkeon Capital Management, Soros Fund Management and a group of angel investors.

Jeeves is an all-in-one expense management platform for startups in global markets, including Mexico, Colombia, Chile, Canada, the United Kingdom and Europe. Jeeves’ proprietary infrastructure offers cash, corporate cards with cash back, and cross border payment services to startup companies, with the capability to handle more than 12 currencies for payback. Jeeves will use the capital raised to support its international expansion.

The Davis Polk corporate team included partner Miranda So, counsel – registered foreign lawyer Xi Shi and registered foreign lawyers Joo Park and Sangsoo (Eddie) Lee. Partner Jai R. Massari and associate Jung Eun Choi provided financial regulatory advice. Partners Paul D. Marquardt and John B. Reynolds III provided CFIUS advice. Members of the Davis Polk team are based in the Hong Kong, Washington DC and New York offices.