Due to the constant changes in the industrial sectors and in organizations, it has become extremely important to be adapted strategically and structurally. Investment strategies and innovation are fundamental to corporate success, which cannot count only with increasing operational efficiency anymore. The Corporate Venture may be this strategic alternative and raise performance of companies when successfully executed and aligned with corporate strategy. This study begins with a review of the literature on corporate venture, deliberate and emerging strategies, and entrepreneurial organization that provides grants for empirical research on a multinational company, Whirlpool. After revision and consolidation of the theoretical basis on a framework, we used the method of case study to deepen the understanding of the topic in Brazil, aiming to identify its strategic importance to the company, which factors that influences the development of new business were present and how they have changed along the way. This study found evidence that new business development is a strategic alternative not only to the growth of economic profits of the company, but also an alternative to develop new skills and diversify the business for a company that was facing slow growth rates in its main market of action. We observed the presence of various elements of corporate venture influencers, highlighting the availability of resources provided by the parent company (brand, finance and people), support of top management and reward system. The results of this study are a contribution both academic and executive, enabling new business managers and executives to enrich their knowledge on the management and strategy of new business in established organizations.