Atleast, based on the experiences of Rand Fishkin (of Moz.com fame ) as recorded in his autobiographical book [1] "Lost and Founder: A Painfully Honest Field Guide to the Startup World". In it, he elaborates on his experience with working with VCs at different stages and what is normal and what is not. It should be required reading for anyone working with or approaching VCs.

His Arguments: Since VCs already profit from your acquisition, they are part of the team. They are stakeholders just as you are. The main reason they are allowed on board, is so that they can provide advice on how to lead the company. So no fees for advice or such.

Also, another important aspect he points out. Sometimes, what is good for you and your company is at odds with what's good for a VC. Thats because VCs expect enormous growth from the successful companies to offset the loss of investment in the startups that don't pan out. A startup with a more modest year on year growth does not cut it from them. Yet that might be the best strategy for you and your startup.

It's been some time since I read it, so I am a bit rusty. He enunciates all this much better.

[1] https://www.amazon.com/Lost-Founder-Painfully-Honest-Startup...