Snap Alums Unveil Ghost Angels Fund: Backing the Next Gen of Social Media Startups

A group of 20 Snap alumni has come together to launch a fund called Ghost Angels to back the next generation of social media companies. The fund declined to disclose how much it has raised so far but says it has backed at least five companies and plans to deploy the remaining capital within the next year into at least 15 more.

Leadership and Founders

Max Rivera, who once led global partnerships at Snap, started the fund in 2025. He runs the fund alongside around 20 other founder members and investors, including a small number of those still at Snap, as well as alumni like Alexandra Levitt, who ran Snap’s corporate accelerator, and Will Wu, a founding member of Snap’s product and design team.

Investment Focus

Ghost Angels is focused on investing in pre-seed to seed AI startups that are building in the social media and consumer space. The fund is particularly interested in companies exploring new monetization models beyond ads, such as subscriptions, tokens, or usage-based pricing. Additionally, they support founder-led GTM strategies.

Key Trends

• The split between 'social' and 'media': Social media today heavily relies on ads with algorithms driving content recommendations. Ghost Angels sees a shift towards more authentic connections.
• Niche communities: The next generation of social media platforms are moving away from generalized platforms to niche-focused ones, delivering on the original promise of connecting people in your life.
• AI-driven innovations: From music to gaming, sports, and fashion, AI is being used to create new formats and tools that lower barriers to creation and distribution.

Ghost Angels aims to bring a diverse mix of thought and experience to their evaluations, ensuring they can support founders effectively. With the rapid evolution in startup ecosystems, this fund positions itself as a key player in backing tomorrow's tech leaders.