Dad taking a bit of a risk with capital (5)
I believe the answer is:
paris
'capital' is the definition.
(capital of France)
'dad taking a bit of a risk' is the wordplay.
'dad' becomes 'pa' (both can mean one's father).
'taking' is a charade indicator (letters next to each other).
'a bit of a risk' becomes 'ris' (I can't justify this - if you can you should believe this answer much more).
'pa'+'ris'='PARIS'
'with' acts as a link.
Can you help me to learn more?
(Other definitions for paris that I've seen before include "Capital of France" , "City where one may see the Mona Lisa" , "Prince of Troy - capital city" , "European capital -- Trojan prince" , "Continental capital" .)