The VC and startup ecosystem doesn't utilize debt to fund growth nearly as much as other industries. For all the time and energy VCs spend helping their portfolio companies strategically prepare for an equity raise, it's uncommon to see investors spend any time helping their portfolio companies raise debt. 

On an individual level, that might be explained by the VC not having a network of lenders, or they might not be experienced in corporate finance. But, on an industry level, the debt service that the company has to pay and the VC's position in the capital stack misalign incentives to advocate for debt.

Both debt and equity have their place in the pantheon of options for funding and scaling a business. So please keep in mind: the business, NOT the financiers, should be driving the funding strategy. The company's incentives will never be perfectly aligned with either debt or equity providers. BUT suppose the company is utilizing debt to fund profitable initiatives and can support the debt service. In that case, they can build a balanced Capital Stack that preserves optionality and rewards ALL shareholders.

Oh, that last bit? Don't forget that the common shareholder sits at the very bottom of the Capital Stack and only gets paid if there's something left over once the mouths above them have been fed. As operators and owners, understanding and optimizing your Capital Stack can mean the difference between a life-changing outcome for the whole team or being locked into the binary business model of the Capital Stack you've built.