Twenty former Snap employees have established an angel fund aimed at supporting the next generation of social media. Their belief is that

      **TL;DR**: Twenty alumni from Snap have launched Ghost Angels, an angel fund aimed at supporting AI startups that move beyond the ad-driven social media model. They've completed five investments and plan to make 15 more.

      A group of twenty former Snap employees has established Ghost Angels, an angel fund focused on the emerging wave of social media and consumer AI startups. The fund has made at least five investments and intends to utilize its remaining funds to support at least 15 additional startups in the coming year. The total amount of the fund has not been disclosed.

      Max Rivera, who previously headed global partnerships at Snap, initiated the fund in 2025 to formalize a growing angel network among alumni. He currently works within Microsoft’s AI division. The founding members include approximately 20 individuals, among them Alexandra Levitt, who oversaw Snap’s corporate accelerator, and Will Wu, a key member of Snap’s product and design team.

      Rivera commented on the diversity of their group to TechCrunch, saying, “We were intentional about the mix. That diversity of thought and experience is essential to how we assess deals and assist founders.” The membership encompasses both former senior executives and those earlier in their careers, along with a few current employees at Snap.

      Ghost Angels focuses on pre-seed to seed investments in AI startups within the realms of social media and consumer products. Rivera has observed a significant trend where the terms "social" and "media" are now being viewed as separate entities. The current understanding of social media relies heavily on advertisements, driven by algorithms for content and recommendations. “Many users feel disenchanted with this compared to the initial promise of fostering real connections,” Rivera stated, noting that the new generation is trending away from generalized platforms towards more specialized communities.

      Ghost Angels supports both aspects of this divide. On the social front, founders are employing AI to fulfill the initial goal of enhancing human connections. On the media side, AI-driven formats and creative tools are simplifying creation and distribution in sectors like music, gaming, sports, and fashion.

      Rivera has seen a shift in how today's founders operate compared to when he joined Snap nearly a decade ago. Teams are now more streamlined, with founders launching rapidly and iterating publicly. Monetization strategies are evolving beyond ads, incorporating subscriptions, token-based systems, usage pricing, and revenue based on outcomes.

      The recent launch of Meta’s Forum app indicates that established companies also recognize this divide. Forum, built from Facebook Groups, aims to capture the community engagement currently dominated by Reddit. Meta’s decision to separate Groups into its own app reinforces Ghost Angels’ belief that niche community platforms represent the next significant trend.

      Molly DeWolf Swenson, co-founder and CEO of portfolio firm Mozi, noted that the “Snap alumni network is filled with insightful and influential individuals who intrinsically understand my area of focus.” The fund’s appeal to founders is not just financial support but also access to domain expertise from those who played a pivotal role in creating one of the leading social platforms in recent years.

      The wider startup ecosystem is increasingly favoring AI-centric approaches that cater to new categories rather than merely enhancing existing ones. For example, Peec AI reached $10 million in annual recurring revenue within six months by focusing on generative engine optimization, a sector that barely existed before ChatGPT transformed search behavior. Ghost Angels believes that a similar trend will prevail in social media: the platforms that succeed will be designed for AI-driven interactions, rather than simply integrating AI features retroactively.

      The Snap alumni network is among the most dynamic in consumer technology. The culture of experimentation at Snapchat, its emphasis on ephemeral content, early investment in augmented reality, and its willingness to develop seemingly unconventional products have fostered a generation of product innovators who are now witnessing the emergence of the next cycle. Ghost Angels serves as the means to leverage that belief into tangible action.