Ghost Angels, launched in 2025 by Max Rivera, is backed by about 20 Snap alumni founder members and investors, including some still at Snap and alumni such as Alexandra Levitt and Will Wu. The fund has not disclosed its total raised amount, but has backed at least five companies. It plans to deploy remaining capital within the next year into at least 15 companies. The fund targets pre-seed to seed AI startups building in social media and consumer. Rivera notes monetization experimentation beyond ads, including subscriptions, tokens, usage-based, and outcome-based models, alongside founder-led go-to-market. He also observes a split between “social” and “media,” where today’s social media is largely ad-driven with algorithmic recommendations.
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