A group of 20 Snap alumni has launched an angel fund called Ghost Angels to invest in the next generation of social media companies and consumer-focused AI startups. According to reports, the fund has already made investments in at least five companies and says it plans to deploy its remaining capital into at least 15 additional startups over the following year. The outlets report that the fund does not disclose its total size. The founders’ stated motivation centers on evolving what they see as the split between “social” and “media,” and they position their investments around products that blend those areas for consumers. The fund’s structure and selection process are not detailed in the available coverage, but both sources characterize it as an early-stage, alumni-backed effort. TechCrunch and The Next Web both describe the launch as a collaboration among Snap alumni and agree on the fund name and its focus on social media as well as consumer AI. The reporting does not provide further specifics on the individual portfolio companies mentioned or the fund’s geography.