Snap Alumni Launch Ghost Angels Fund to Back AI-Focused Social Startups

Twenty former Snap employees have formed Ghost Angels, a venture capital fund targeting early-stage artificial intelligence startups in social media and consumer spaces. The fund, launched in 2025 by ex-Snap global partnerships head Max Rivera, has already invested in five companies and aims to deploy its remaining capital into at least 15 more by May 2027, though the total raised was not disclosed. Rivera, now at Microsoft’s AI lab, assembled about 20 founder members, including Snap alumni Alexandra Levitt and Will Wu, blending senior and junior talent to evaluate deals. The group is betting on a split between “social” and “media” in next-generation platforms, moving beyond ad-driven algorithms. “On the social side, we’re backing founders applying AI to deliver on the original promise of connecting people,” Rivera said. On the media side, the fund supports AI-native formats and generative tools across music, gaming and fashion, as founders adopt lean teams and explore subscription- or usage-based monetization models.