Former Vodacom CEO Pieter Uys and former First National Bank CEO Michael Jordaan have joined the board of Invenfin, the venture capital division of investment holding company Remgro Limited, as nonexecutive directors.

Uys is already Remgro’s investment executive.

“We are very excited to have them on board and be in a position to tap into their extensive business knowledge and networks,” says Invenfin executive director Stuart Gast in a statement. “Invenfin’s investments will benefit directly through Pieter and Michael providing strategic direction in building and scaling young businesses.”

Jordaan, who chairs the board of social network Mxit, left FNB last year to pursue his interest in the technology field. He relocated to Stellenbosch, where he owns a wine farm.

“A vibrant, entrepreneurial sector is essential for the South African economy and a venture capital fund like Invenfin is an important player in this ecosystem,” says Jordaan in the same statement. “Through our investment in businesses and providing strategic support, hopefully Invenfin can add to the list of home-grown, internationally recognised success stories.”