Ghost Angels Fund: A New Venture from Snap Alums

A New Era in Social Media Investing: Ghost Angels Fund

A pioneering group of 20 former Snap employees has united forces to establish Ghost Angels, a venture fund dedicated to supporting the next wave of social media innovators. While the fund has not disclosed its total funding amount, it has already invested in five companies and aims to allocate the remaining capital to at least 15 more ventures within the next year.

Ghost Angels was founded in 2025 by Max Rivera, erstwhile head of global partnerships at Snap, to formalize the burgeoning Snap alumni angel investor community. Rivera spearheads the fund, with the participation of around 20 other founding members and investors, including current Snap employees and alumni such as Alexandra Levitt and Will Wu.

Rivera emphasized the deliberate diversity in the fund’s composition, blending former senior executives with up-and-coming talents to enrich deal evaluations and founder support. The evolving landscape of entrepreneurship, characterized by leaner teams and rapid public iteration, underscores the need for varied perspectives and experiences in guiding investment decisions.

Rivera, currently affiliated with Microsoft’s AI division, noted the significant shifts in entrepreneurial practices over the past decade, with founders embracing agile development and transparent public engagement. This dynamic environment necessitates a blend of traditional wisdom and contemporary insights to nurture emerging ventures effectively.

Molly DeWolf Swenson, CEO of Ghost Angels portfolio company Mozi, lauded the network’s exceptional talent pool, citing a shared understanding of the industry landscape as a key asset in driving strategic growth.

Ghost Angels’ investment focus lies in early-stage AI startups operating within the social media and consumer sectors. Rivera highlighted a crucial trend in social media evolution, emphasizing the divergence of “social” and “media” functionalities. The fund aims to support innovative AI applications that enhance user connectivity and content personalization, steering away from ad-driven platforms towards niche community building.

Recognizing a growing disillusionment with conventional social media models, Ghost Angels prioritizes founders leveraging AI to revitalize the original promise of meaningful digital interactions. Additionally, the fund champions AI-driven creative formats across diverse media domains, fostering accessibility and inclusivity in content creation and distribution.

This post was updated to clarify Max Rivera’s current workplace.