Snap alumni launch Ghost Angels fund for social media startups

A group of 20 Snap alumni has launched Ghost Angels, a fund to back the next generation of social media startups. The fund has backed at least five companies and plans to deploy remaining capital into at least 15 companies within the next year. It declined to disclose the amount raised. Max Rivera, who led global partnerships at Snap and now works at Microsoft, started the fund in 2025. Around 20 founder members and investors participate, including Alexandra Levitt and Will Wu. The fund targets pre-seed to seed AI startups building in social media and consumer spaces. Rivera noted founders are launching with leaner teams and experimenting with monetization models beyond ads. Investments focus on AI applications to connect people and AI-native creative tools in areas such as music, gaming, sports, and fashion.