Venture Capital- as bad as I think?

[topgunkos]

Hi,
Myself and 2 other partners are looking for funding for a company in the medical device field. The amount is around £1,000,000. This is out of reach for us in terms of personal loans etc. We have looked at other options and have had a few meetings with VC's which have been positive. However the more I read about VC funding the more nervous I get, the general consensus is that within a few years we will have no equity and a CEO placed by them.

Has anyone had any experience with VC funding? Is it as bad as people make out or is it just a case of going in eyes wide open and accepting that investment at this level comes with a high cost attached?

Thanks

[topgunkos]

Private equity would be ideal but as you say you nees to be up and running. Unfortunately medical devices have a large development and regulatory burden which means a lot of investment to reach the commercialisation stage.