BEIJING, May 19, 2009 (Xinhua News Agency) -- One Net Entertainment Ltd., a subsidiary of Techfaith Wireless Communication Technology Ltd. (CNTF.NASDAQ), will get a total of 20 million U.S. dollars investment from the US-based IDGVC Partners and the Hong Kong-based Infiniti Capital.

The capital, 10 million dollars each from the two investors, will be injected through Leo Technology Ltd, subsidiary of Techfaith.

The investment from IDGVE Partner will be made in the form of a convertible note into ordinary shares of Leo Technology or TechFaith at the option of the note holder, and Infiniti Capital's investment will be in the form of common equity.

One Net Entertainment, focusing on development and operation of wireless games, will apply the capital to implementation of the company's growth strategy, and seeking opportunities for game development and publishing, according to Defu Dong, Chairman and CEO of TechFaith.