The article describes both types of Russian venture funds and forms of the state participation in venture investment. Besides, the article mentions the scheme of regional venture fund creation in Ural district, principles of its participants` interaction and some management issues. Moreover, we can see here the fund's development which includes market, technological, integration and investment components.

The article shows that the modern reqional industrial policy should promote for association of innovative entårprises and orqanizations in clasters (networks). The maintenance of concept "innovative claster" and the effects connected with its functioninq reveals are opened. The standart clasters analysis is supplemented with application of methods of the institutional economic theory.