I have had a couple of runs at venture financing and the terms in Silicon Valley can be pretty onerous, especially if you don't have a lot of cash and revenues

I have had a couple of runs at venture financing and the terms in Silicon Valley can be pretty onerous, especially if you don't have a lot of cash and revenues less than $10M per annum. Silicon Valley Bank for example effectively won't loan you money you don't already have in your balance with them. This can be a disillusioning experience but if you flip it around the bankers providing the financing don't get anywhere near as much upside as a traditional VC. Their caution is understandable.