In a recent Business Insider article about “Arfur Rock,” one of the most intriguing anonymous voices in venture capital on X (formerly Twitter), Alpha Partners Founder and Managing Partner Steve Brotman shared his take on what this trend means for both founders and investors.
“What Arfur Rock is doing is essentially hacking the system,” said Brotman. “It enables fundraising information to leak anonymously.”
With over 23,000 followers, the Arfur Rock X account has become a must-watch source for confidential deal intel, ranging from revenue numbers to unannounced rounds. It’s all shared pseudonymously by someone claiming to be an “anon GP at your favorite multistage VC.”
While Rock positions the feed as a public service for the ecosystem, the mechanics are more complex. Because SEC rules prohibit startups from publicly discussing fundraising, many founders are left navigating opaque and limited networks of capital. Rock’s account, intentionally or not, exposes how information wants to move, and how power in VC often lies in who hears what first.
Still, the account has its critics. Some founders and investors have noted that early leaks can derail a company’s carefully planned comms strategy, while others question the accuracy and motivations behind the posts.
Rock, for their part, insists they only publish “clean laundry,” meaning no layoffs, no down rounds, no firm departures, and say they never violate NDAs. Their goal is to spotlight top companies and promising founders earlier in their journey.
At Alpha Partners, we’ve always believed that better visibility drives better outcomes. Whether that comes through traditional media, open-source data, or even anonymous accounts, the market tends to reward transparency—so long as it’s coupled with accountability.
In an industry driven by information asymmetry, Arfur Rock is less of an outlier and more of a reflection of where venture is headed.
Read the full article on Business Insider here: https://www.businessinsider.com/vcs-new-favorite-guessing-game-who-is-arfur-rock-2025-6
