Milwaukee-based Northwestern Mutual Life Insurance Co. has confirmed it’s creating a new innovation lab at its downtown Milwaukee headquarters campus, in part to house Milwaukee-area startup companies it invests in through its Cream City Venture Capital fund.

A rendering of Cream City Labs. (Rendering:Rinka Chung Architecture)

BizTimes Milwaukee first reported on the innovation lab when Northwestern Mutual Venture Capital last month invested in Milwaukee startup Lumanu, which will move in to the innovation lab. Northwestern Mutual declined to comment fon the lab at that time.

The life insurance and financial services firm said today it is currently converting office space into the 17,000-square-foot lab space on the second floor of its office building at 733 N. Van Buren Street, which will be called Cream City Labs. It is expected to open in August. Read the full story here.