Twenty former Snap employees have established Ghost Angels, a new investment fund focused on backing the next generation of social media startups.
The fund represents a coordinated effort by veteran Snap staff to identify and support emerging social platforms. The group brings collective experience from one of social media's most influential companies, positioning them to identify promising founders and technologies in the space.
Ghost Angels joins a crowded landscape of venture capital focused on social platforms, where competition for quality deal flow remains intense. The fund's emphasis on "next generation" social media suggests the backers are seeking alternatives to incumbent platforms and novel approaches to social interaction.
Snap alumni have historically been active investors and founders themselves. The formalization of their efforts into a dedicated fund signals confidence in emerging opportunities within the social media sector, despite broader economic uncertainty in venture capital.
Legal tech startup Legora is in talks for a new funding round that would value the company at approximately $8.5 billion. The round represents significant growth for the emerging legal technology platform.
Chamelio secured $26M in Series A funding to expand its AI platform designed to automate routine legal tasks while routing complex cases to human lawyers. Entrée Capital backed the round.
Snorkel AI, a data startup offering an "agentic data development platform," secured $350 million in funding at a $3.5 billion valuation, according to CEO Alex Ratner.
Baselayer, an AI platform helping financial institutions verify businesses and assess fraud risk, secured $35M in Series A funding led by M13. The round brings total funding to approximately $40M.