摘要:Objective: The aim of this study is to analyze the strategy of valuation of technolgy companies, especially of a Brazilian cloud computing spin-off , focused on the market of small and medium-sized enterprises, in order to guide entrepreneurs in this sector to the phases of participation negotiation to raise funds for Venture Capital investor for the purpose of expanding or shutdown of the business.Methodology: A case study was carried out in a specific spin-off, , focusing on solutions of software for business management for small and medium-sized enterprises.Originality: The market for cloud computing grew, in Brazil, 47% in 2016, what indicate a great potential for new companies focused on this segment. and that offer these services to their customers. Thus, it becomes relevant, the study of growth, expansion or sales strategies of these enterprises.Main results: The application of the results obtained from this study can be useful to guide the fundraising strategies for the purpose of expanding these cloud computing enterprises through their evaluation both for future entrepreneurs and investors.Theoretical Contributions: This study involves the application of a valuation method for a spin-off of a company that operates in the cloud computing segment for Venture Capital Investors fundraising, which represents a contribution for both entrepreneurs and investors.