In the article, authors explored the essence and content of the concept of “investment risk”, as well as identified factors influencing investment risk. The classification of investment risks on various grounds is carried out and scientific approaches to understanding the essence of “investment risk management” are considered. It is reasonable to manage the risks of investment activities of the enterprise in three stages: risk identification, risk measurement and risk control. Two directions of risk management of investment activity of the enterprise are described, namely: the policy directed on direct reduction of risk and the policy directed on minimization of possible negative consequences of risk. The principles of risk management of investment activity of the enterprise are characterized, such as awareness of risk acceptance, manageability, compatibility, accounting, taking into account the possibility of risk transfer. Peculiarities of application of risk management methods of investment activity of the enterprise (transfer, retention and risk avoidance) are revealed. The authors consider several risk management strategies for investment activities of the enterprise: asset allocation, diversification, hedging, investment valuation, investment restrictions. The advantages and disadvantages of methods for assessing the risks of investment activities of the enterprise (expert assessment, SWOT-analysis, method of analogies, adjusting the discount rate) are highlighted. Authors considered qualitative and quantitative scientific approaches to assessing the risks of investment activities of the enterprise. It is proved that one of the industries that is significantly exposed to the risks of investment activity is the telecommunications industry, which is exposed to the following risks: economic and legal, socio-political, technological and financial. The key directions of investment by enterprises of the telecommunication sphere are investigated – Crown Castle International, Amdocs Limited, Xilinx, Inc, Qualcomm, Verizon Communications. The article considers the local and telecommunication levels of investment activity risks, as well as suggests directions for risk management of investment activities of the enterprise.