Not a fan of VCs but they can serve a purpose
I am not a fan of VCs and would favour the solid route of funding growth out of revenue/profit over getting a highly speculative investment with some dangerous strings attached (I know a couple of people who have been kicked out of the company they've build themselves by their VCs).
That said, there are occasions where the outlay of money required to achieve a vital next step is so big that there are few alternatives. In those cases I would always try and get a company to revenue positive or even profit making before trying to get investment. The balance of power when looking for investment into a revenue/profit making company is significantly different.
I suppose that is very European (or should I say un-American) of me. Yes, the business tend to grow less but at least they survive more than a few years.