Abstract: the research of the paper is devoted to the analysis of the characteristics and features of the practical application of innovative financial instruments in the investment and entrepreneurial activities of Russian organizations. In particular, features of formation and application of such innovative financial instruments as crowdfunding, venture financing, real options and exotic options are considered. Their relevance in the conditions of formation of digital transformation of economy of the Russian Federation is analyzed. Modern trends in the development of business and investment activities in the Russian Federation are associated with the influence of various processes, including not only globalization and activation of foreign economic activity, but also integration with various technologies that improve production and management system. The purpose of the research is to analyze the characteristics and features of the practical application of innovative financial instruments in the investment and entrepreneurial activities of Russian organizations.
Keywords: innovation; digital economy; digital transformation; financial instruments; financing; securities; crowdfunding; venture financing; exotic options; real options