A group of former employees of social media company Snap has launched a new investment initiative known as Ghost Angels, aimed at supporting emerging startups developing the next generation of social and consumer technology platforms.

The fund was established by Max Rivera, a former head of global partnerships at Snap, who sought to formalize an already active network of Snap alumni involved in angel investing. The initiative brings together approximately 20 founding members, including former executives, product leaders, and technology professionals with deep experience in the social media sector.

Although the fund has not disclosed the total amount of capital raised, it confirmed that investments have already been made in at least five startups. Ghost Angels plans to deploy the remainder of its capital over the next year, supporting at least 15 additional companies focused on innovation in social media, artificial intelligence, and consumer technology.

Rivera explained that the group intentionally assembled members with diverse professional backgrounds and varying levels of industry experience. According to him, this mix of perspectives strengthens the fund’s ability to evaluate opportunities and provide meaningful support to entrepreneurs.

The founders believe the social media landscape is undergoing a major transformation. Unlike previous generations of platforms that relied heavily on advertising-driven business models, today’s startups are experimenting with subscription services, usage-based pricing, and other innovative revenue streams. They also noted that modern founders are launching products faster and engaging directly with users throughout the development process.

Ghost Angels intends to focus primarily on early-stage AI startups operating in the consumer and social media sectors. The fund’s leadership argues that future platforms will place greater emphasis on authentic human connections and niche communities while leveraging artificial intelligence to simplify content creation and distribution across industries such as gaming, music, sports, and fashion.

Source: TechCrunch