Additional capital would allow you to take advantage of certain strategic opportunities that you simply don't have enough cash to pursue on your own.
As an example from a private equity fund, their client was in old age care:
Senior Home Care, a Florida-based fast-growing home healthcare company facing strong demand for its services. However, to meet that demand, the owner knew that he would have to make an investment.
It would take the owner both time and money to recruit more nurses in a very tight labor market and then to train them extensively. Once his new employees were in the field, it might take a month before his company could bill for services -- and up to three months before getting paid.
To the owner, however, the opportunity was clear. He knew that hiring more nurses would generate additional profits. By taking on a private equity partner, he was able to staff up, take on new customers, and realize additional revenues -- without losing control of his business. Though in this case, Senior Home Care's growth was internal, other companies may find that acquisitions represent their best path to growth, and private equity capital can help fund these strategies as well.