TPG Growth-Smile venture to invest in digital businesses.

Private equity firm TPG Growth along with consumer Internet group Smile Group will pump in about $100 million to build businesses across APAC and MEA under the brand name Katalyzers.

The joint venture will partner with successful Internet companies in the marketplace, classified listings, local commerce, digital media, e-commerce and mobile space and help rollout their businesses across Asia and other emerging markets.

Smile Group, in the past, has successfully supported the international expansion of companies like AirBnb.com, WPP Digital, Yahoo and others across Asia, Africa and Latin America through joint ventures and sweat equity partnerships.

HBL