Yes! But is very tricky. I have a C Corp own two LLCs. You should have separate board of directors in the C Corp that are not owners in the LLCs. Pay through bonuses rather than salaries and aggregate expenses of the LLCs as op. expenses as SBUs of the corp.

The reasons for having a C own LLCs can vary, my reasons were that it allows me to join or create new ventures without having to formalize them with dedicated teams, just cycle my team to different efforts while seperatig expenses, not reporting publicly what is being worked on, and if the product takes off the formation is already there to grow the product into a division or umbrella product of my main company.

LLCs are easy to form, while C corps are not...
One example would be having a conglomerate of investors under a c corp and have advisors and creating an LLc for each new rental construction development project completed. Each is his own, if something goes wrong the LLC covers the C entity- this protecting its investor members.

Best of luck!
Humberto Valle
#unthink