NEXT STEP DESK

A group of 20 former Snap employees has launched Ghost Angels, a venture fund targeting early-stage AI startups in social media and consumer tech, according to a recent TechCrunch report. Founded in 2025 by ex-Snap global partnerships head Max Rivera, now at Microsoft’s AI division, the fund has already backed five companies and plans to invest in 15 more within a year. The fund size remains undisclosed.

Founding members include Alexandra Levitt, who ran Snap’s corporate accelerator, and Will Wu, a founding product and design member, alongside a small number of current Snap employees. Rivera said mixing senior executives with earlier-career talent is central to how the group evaluates deals and supports founders.

Ghost Angels is betting on a split in social media. The traditional ad-driven, algorithm-fed model is losing users who originally wanted connection, Rivera said. The fund backs founders using AI to deliver on that promise, while also supporting AI-native formats and generative tools across music, gaming, sports, and fashion. Rivera noted that new founders are launching leaner, iterating publicly, and exploring monetisation beyond ads, including subscriptions, tokens, and outcome-based pricing. Founder-led go-to-market strategies are also becoming essential.