It's all a function of how deep your venture capitalists pockets are. You may need to have a secondary offer to raise capital. If you're debt averse, then make it equity. Sounds like you should have a quick board meeting, deliberate the question and take a vote.

On a serious note, if you are personally borrowing the money or constrained in any way from the expenditure, I encourage you to think twice UNLESS you can have a VERY QUICK and ASSURED return of your investment in 6 months or less from the additional fees you earn.