Risky undertaking (7)

I think it could be either:

Which length description are you looking for?:

venture

'risky undertaking' is the definition.
(I've seen this in another clue)

This is the entire clue.

(Other definitions for venture that I've seen before include "Dare, take a chance" , "Undertake a risky course of action" , "Commercial undertaking that risks a loss but promises a profit" , "Undertaking that involves risk" , "Uncertain undertaking" .)

I've seen this clue in The Telegraph, the Sydney Morning Herald and the King Feature Syndicate.

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