Equity investments don't "raise the value" of the firm. They simply signal that other people with money believe you will generate X amount of dollars in the future. Debt financing involves signals, too: the interest rate reflects what other people with money think about your ability to generate X amount of dollars in the future (to hopefully pay back your loan). GE pays a very low interest rate on its bonds because of its value and perceived ability to pay back debt.

This is not true if you are destroying value, so its not true per-se. A Junkie with an Amex black meets this definition of success, for example.