New Delhi: Smile Group, which has holdings in the consumer internet and digital media space, has formed a $100 million joint venture with TPG Growth, to build businesses across the Asia-Pacific, Middle East and Africa under the brand name Katalyzers.

Smile Group said the joint venture will partner with promising Internet companies in the marketplace, classified listings, local commerce, digital media, e-commerce and mobile space and help them roll out businesses across Asia and other emerging markets.

“Katalyzers will leverage Smile’s strengths, enabling successful digital companies to build businesses with speed and efficiency across the emerging markets without diverging their focus and bandwidth from the home markets," said Harish Bahl, the founder of Smile Group.

“We will bring together on one common platform local Asian knowledge, experience of building businesses, in-house talent of entrepreneurs, media and technology professionals, partnerships with marketing and performance media companies like Tyroo, DGM & WPP and now in partnership with TPG, deep financial assets for co-investment opportunities," said Bahl.

TPG Growth is the growth equity investment arm of San Francisco-based private investment firm TPG Capital LP.

“We are really excited to join hands with Smile Group. Bringing companies to the international markets will require deep expertise and capital," said Keith Nilsson, who represents TPG Growth.

Katalyzers has offices in India, Singapore, and San Francisco and has a presence across China, Africa, the Middle East and Latin America through partner offices of Smile and TPG.

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