The article considers the peculiarities of organisational and functional optimisation of Russian development institutions within the framework of the ongoing administrative reforms in the country and substantiates the diversity of forms and types of development institutions. A classification of development institutions is given according to various characteristics, such as the level of economic functioning, initiation, goals, and directions of state support, long-term, type of development institutions, degree of openness, as well as control over development institutions. The article examines a new stage in the optimization of Russian development institutions in the period 2021–2023. At the same time, some of the development institutions were liquidated, merged, modified, resubordinated to VEB.RF, and some of the domestic development institutions remained without significant changes. The article defines new organizational contours for managing development institutions at the present stage.