Incubator aims to invest in its biotech tenants, too

Biotech incubators are blooming like crocuses in Cambridge.

But when Alexandria LaunchLabs opens in a 22,000-square-foot space at One Kendall Square in the fall, it will feature a twist that makes it different from any other incubator in the world, according to its owner.

Alexandria Real Estate Equities Inc., which owns the property, says that if any of the scientists who rent laboratory space have a startup that looks particularly promising, the landlord may invest in the enterprise through its venture capital arm, which currently manages over $500 million.

“Our goal is to make sure the companies don’t waste time trying to raise money,” said Joel S. Marcus chairman, chief executive, and founder of Alexandria Real Estate Equities and Alexandria Venture Investments, which are based in Pasadena, Calif. “They need to spend time on science and focus on products.”