There's something adorable about Nick Grouf, the babyfaced, waggle-eared cofounder of Spot Runner. Who would think he'd be capable of bilking investors out of tens of millions of dollars, as one shareholder charges?

Index Ventures, a backer of Skype, MySQL, and other European startups, has raised a 400 million-euro ($584 million) fund. Its partners say they hope to dissuade company founders from selling out too early. [VentureBeat]