The article presents results of the research aimed to reveal insufficiently studied or unstudied aspects, particularly theoretical, of such diversified object and process as venture financing (investment). Within the context of this target, development of its theoretical framework including conceptual and categorical framework, genesis of higher risk level, system of specific features, range of instruments and methods of investment and high-performance implementation is suggested. Relevance of the task set is connected with the necessity of the thorough study of genesis, evolution, structuring of institutional foundations, specifics of venture capital, venture financing (investment).The reason for this is that, primarily, in the highly-developed countries venture financing (investment) having a variety of advantages in comparison with other sources of financing is used as an efficient source and instrument of financial support of innovation projects and companies. According to the specific character of the object under review systems analysis method, dialectical method, structure-logical method, evolutionary-genetic method, analytical-gnoseological method have been used. In Russia development of venture financing (investment) system and its effective performance are at the initial stage. In this respect, both structuring and accentuating the contribution of existing research and development of insufficiently studied or unstudied aspects of this multi-faceted problem are important nowadays.