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.
Chinese AI startup Psibot has reached a $1.48 billion valuation after securing close to $100 million in new funding. The milestone reflects growing investor appetite for artificial intelligence startups in China.
Khosla Ventures is in talks to raise up to $5.5 billion for its latest investment funds, marking the venture firm's largest fundraising effort in its 20-year history.
Technology sector IPOs are entering a period of significant growth, according to Jamie Turturici, head of TMT equity capital markets at Barclays. Multiple companies are preparing to go public.
Yope, a social network focused on private micro communities without algorithms or ads, secured $12.3 million in seed funding led by Northzone. The platform has reached approximately 15 million registered users.