Yesterday I spent a few hours with an entrepreneur discussing the best fundraising strategy for his company.  Great conversation. 

Generally there seems to be a lots of different thoughts on that this days.  Marc Andreessen pretty much lands on taking as much as you can get.  Stephen Fleming and Dick Costolo (both very worthy reads if you are contemplating raising funds) seem to think less might be more.

Personally, I think the right answer is taking as much as you need to reach your objectives, whatever they may be, is the right answer.  And whatever you do, never ever take more then you what you need and force a strategy that you are not ready to commit to.