The article investigates the management of investment funds of an industrial enterprise, taking into account the specificity of renewal of fixed capital, which determines the best way to implement the innovative reproduction. The author analyzes the investment appeal of the industrial enterprise using a set of financial and economic indicators. The model of investment-innovative activity of enterprises of the defense industry is considered, which takes into account specific factors of this type of enterprise. The problem of choosing key business partners depending on the type of business of an industrial enterprise is analyzed.