This paper studies the speculative risk and its measure for securities investment.

In order to fully evaluate fund managers\' speculative behavior,this thesis would estimate fund managers\' speculative risk via the measure of systematic skewness.

However,as the core of the venture capital system,venture capital institutions face various risks from outside and inside.

China s venture capital has great difficulty in financing aspect and its scale is somewhat small, the cause of which is mostly lack of a series of venture capital institutions.

The paper proposes measures that should be taken in establishing a venture investment mechanism of the rapid development of chinese IT industry.

The perfect venture capital mechanism is a finance support to push on the high and new technology industrialization.

On this basis, it also labours the concrete issue existing in the venture capital mechanism on current stage in our country, and gives the practicable advice aiming at the concrete issue.

The authors analyze the current situation of Canadian mineral resources exploration’s risk investment mechanism.

Now, the transfer of scientific and technological results of Chongqing is not going on well due to several factors, such as that the results are not practical, risk investment system is not sound.

In order to realize the breakthrough of the risk investment system in China and promote the rapid development of the risk investment, we should conduct careful systematic analysis and comparison, draw lessons from the international successful experi- ences.