It is a liberal party which has over the time enacted reforms such as parliamentarism, freedom of religion, universal suffrage, and state schooling.

Since World War II, Venstre has been part of five coalition governments, the most recent one being Solberg's Cabinet from 2018.

A dispute over Norwegian membership in the European Communities (now the European Union) led to the party splitting at a meeting in Røros in 1972, with the people favoring EC membership departing and forming the Liberal People's Party.

In 1993 the party again failed to achieve the 4% threshold that would have made it eligible for the levelling seats in parliament, but Lars Sponheim was elected directly from Hordaland county.

This cabinet resigned in 2000, refusing to accept the Storting's decision to build gas power plants.

In 2001, Venstre narrowly failed to reach the 4% threshold, but had two representatives elected, Sponheim and Odd Einar Dørum.

However, due to Venstre becoming part of the second coalition government of Kjell Magne Bondevik, with Sponheim and Dørum entering the cabinet, the two were represented in parliament by deputies.

The party also got a third member of the cabinet, with the appointment of Torild Skogsholm as Minister of Transport and Communications.

The same evening, 14 September 2009, Lars Sponheim announced that he would step down as party leader, as a consequence of the poor result.

[15] Venstre climbed over the threshold with 5.2% in the 2013 elections and entered into coalition talks with the Conservative, Christian Democratic, and Progress parties.

Venstre and the Christian Democrats decided not to enter the new Solberg Cabinet, thus leaving it without a parliamentary majority, but made a confidence and supply agreement with it.

[29] The party is also a strong supporter of multiculturalism, increased labour immigration to Norway, and relaxed integration measures.

More recently the party has been a proponent of a blue–green alliance in Norwegian politics, with Venstre constituting the green part.

[35] In 2007, Venstre became the first Norwegian party to advocate legalizing sharing of copyrighted digital material.

It meant liberal or radicalism in comparison to the conservatives on the right, and referred to the position of the seats in Parliament.