本文将网络嵌入性理论的结构嵌入性观点与关系嵌入性观点纳入到统一的研究框架内，基于我国2000-2013年联合风险投资数据，对联盟领导者投资比例与联盟成员网络嵌入性的关系进行量化研究，以探索网络嵌入性对联合风险投资信息优势的影响。研究表明：在我国经济转型背景下风险投资市场发展的初始阶段，联合风险投资中的领导者可通过网络位置获取较好的信息搜索能力，以增强联合投资的信息优势，而跟从者普遍缺乏此能力，但依靠跟从者内部“领头羊”的异质性信息资源以及与投资对象之间的信息共享关系可以强化相应的信息搜索优势；此外，联合投资规模的增加也有助于弥补投资信息缺口。

Based on the theory of social network, it is crucial to enhance information superiority through joint venture capitals. This research explores the impacts of both structural embeddedness and relational embeddedness on the information superiority of the joint venture capitals. Based on joint venture investment data in China during year 2000-2013, this research empirically analyzes the relationship between the investment ratio and information superiority. The results show that venture capital leaders have the advantages of information search from network locations, while the followers lack of this superiority. In addition, the information sharing among the investors and investees as well as the scale of the joint venture capitals may enhance information search advantage.