An engineer -- here's the egotism coming -- is a money machine. She may be more effective working together with other force multipliers (marketeers, venture capitalists, a good CEO), but fundamentally a good engineer creates value all by herself. If the VC isn't along for the ride, less value may be created less quickly, but the engineer is still going to get hers and the VC not.
I can think of one example of an engineer who just didn't seek funding and created a whole bunch of value (notch); does anyone know of a good example of a startup which was forced to bootstrap without significant funding (on account of a burst VC bubble) and survived to stick it to 'em?