There are quite a few entrepreneurs who say they do not need VC funding. At times, it is their considered view. At times, it is based on their sense of what VC funding entails, and primarily around poor experiences of VC-funded entrepreneurs where the business or relationship went south.
It's worthwhile sharing 2 beliefs of mine at this point: (1) outliers create better stories, both on the success and on the failure side; & (2) Failures create stronger biases than successes, on the margin. The fat middle is always forgotten!
There is no gainsaying the awesomeness of a self-funded successful business. If one can create and maintain profitable market leadership without any external funding assistance, that's a founding team worthy of serious admiration and emulation. We have enough and more such successes in India, some known & many unknown to the larger world.
However, I come across many entrepreneurs whose businesses are profitable and they are happy to plough profits back into the business and continue growing organically. Hats off to them. However, I would leave them with some thoughts.
One, the world is very dynamic. Your current success, profitability and market position is not to be taken for granted. Many businesses have seen erosion of their market position and profitability, very rapidly, because they were blind-sided by new market dynamics or by competitors who upped the ante, with or without external funding.
Secondly, there is a time and place for everything. While organic growth is good, one needs to keep thinking about building and protecting market leadership, which is never guaranteed. It's a well known fact that market leaders take a disproportionate share of the economic spoils. To build and maintain market leadership, besides many other ingredients, it is always good to have surplus financial resources at your command to move quickly and grab the opportunity, rather than wait for internal accruals ... in which time the market opportunity might have vaporized.
Having said the above, for the entrepreneurs who don't care aggressively about leadership or profitability, have more modest ambitions and prefer peace & calm over daily guerilla battles, it is perfectly fine in saying "I don't need VC funding". But remember, if you are in business, your desired state of peace and calm is never fully in your control.