Arctic Ventures is the new investment arm of Arctic Business Incubator, Sweden's northernmost business incubator.

Arctic Business Incubator, a Luleå, Sweden-based startup incubator, announced launching Arctic Ventures, an investment arm which will fund the startups part of the incubator.

Arctic Ventures, which will be led by Jens Lundström, CEO of the Arctic Business Incubator, will act as a business angel company, with investments of SEK 300k ($33k) in the companies accepted in the incubator.

Arctic Ventures will also provide the local private investors the opportunity to invest in a portfolio of companies in various industries that are admitted to ABI. Business angels will be able to invest between SEK 150-350k ($40k) and are given the opportunity to meet and follow these companies right from the start. ABI will arrange meetings for interested investors in different locations in northern Sweden with the aim of Arctic Ventures to raise investments in early 2018.

ABI and Arctic ventures are owned by LTU Holding, Norrlandsfonden, Region Norrbotten, Luleå and Skellefteå Municipality and are financed in addition to the owners of Vinnova and Future Bank and Kiruna Municipality. The spacecube ESA BIC Sweden is headed by the Arctic Business Incubator together with Uppsala Innovation Center and Innovatum in Trollhättan. ABI currently supports 30 member companies and has a number of players in the starting pit.