The study aims to verify whether the company Embraer, as an investor in Corporate Venture Capital (CVC), acquired competitive advantages due to its investment in the FIP Aerospace, its first CVC fund. For this purpose, a bibliographic and field research was conducted. The results obtained corroborate the hypothesis that there was an enhancement of Embraer s competitive advantage, due to (i) the improvement in the attributes of the company s final product, as the decrease of aircraft fuel consumption, (ii) the development of new products, such as the urban air mobility vehicle, (iii) the entering in new markets, as the cybersecurity, and (iv) the generating of additional revenues through new businesses.