Venture capital network is composed of investors and their joint investment partnership. The mechanism of the impact of the second-order social capital on the invested science and innovation enterprises is not clear. Selecting 1 852 biopharmaceutical enterprises that received venture capital from 2000 to 2016 and the 2 386 venture capital networks formed by them as research samples， it empirically analyzed the impact of venture capital network structure （network closure， network clustering） and network composition （investor track diversity） on innovation performance of the invested science and innovation enterprises， and the moderating role of investor track diversity on this impact. The research finds that the relationship between the closure of the venture capital network and innovation performance of the enterprises is inverted U-shaped， and the clustering of the venture capital network negatively affects innovation performance of the enterprises. The improvement of the diversity of the investor track helps the invested enterprises improve innovation performance， but weakens the inverted U-shaped relationship between the closure of the network and innovation performance of the enterprises. In addition， the moderating effect of investor track diversity on the relationship between network clustering and enterprise innovation is not significant. The conclusions provide new insights into the relationship between venture capital networks and innovation performance of science and innovation enterprises， and help investors optimize investment strategies and managers formulate innovation policies for science and innovation enterprises.