IGan Seeks Cash as Valuations Go From ‘Ridiculous’ to Reasonable

Venture capital firm IGan Partners Inc. is raising $400 million to invest in health-care technology startups, seeking to capitalize on lower valuations for private companies after this year’s broad selloff in stocks.

Toronto-based IGan is looking to raise $150 million for a 10-year fund known as IGan Fund2 to invest in North American companies, Managing Partner Sam Ifergan said in an interview. It’s also seeking $250 million for companies that want to expand production or sales capacity in the Middle East, especially Saudi Arabia, the United Arab Emirates and Egypt, he said.

The firm’s investment focus is on software and ...