Snap alumni launch Ghost Angels fund to target AI-driven social media
The Ghost Angels fund, established in 2025, has already backed five companies and plans to deploy capital into at least 15 more firms within the next year, focusing on niche communities and generative creative tools.
A coalition of 20 Snap alumni, spearheaded by Max Rivera, has launched the Ghost Angels fund to invest in the next generation of social media and consumer artificial intelligence startups. Established in 2025, the vehicle aims to formalise an existing angel-investing community within the former social media giant’s ecosystem, targeting founders who are leveraging AI to build niche communities and generative creative tools.
The fund, which declined to disclose the total capital raised, has already backed at least five companies. Rivera, who previously led global partnerships at Snap and currently works at Microsoft’s AI lab, stated that the group plans to deploy remaining capital into at least 15 firms within the next year. The investment strategy focuses on pre-seed to seed-stage ventures, reflecting a shift in the startup landscape where teams are leaner and founders are launching products faster while iterating in public.
The investor group comprises a mix of former senior executives and those earlier in their careers, including a small number of current Snap employees. Notable members include Alexandra Levitt, former head of Snap’s corporate accelerator, and Will Wu, a founding member of Snap’s product and design team. Rivera emphasised that this diversity of thought and experience is central to how the group evaluates deals and supports founders.
According to Rivera, there is a growing divergence between social and media sectors. He noted that many users are disillusioned with current ad-heavy, algorithm-driven platforms that have strayed from the original promise of connecting people. Consequently, the fund is backing founders applying AI to deliver on that social promise, while also investing in AI-native formats and generative creative tools across music, gaming, sports, and fashion.
Beyond traditional advertising models, the group is observing experimentation with alternative monetisation strategies. Rivera highlighted the rise of subscriptions, token-based systems, usage-based pricing, and outcome-based models. Founder-led go-to-market strategies are also emerging as a key pillar for these new ventures, as the industry moves away from generalized platforms toward more specialised, community-focused applications.
