Abstract: Based on the case of venture capital cluster’s relocation from Silicon Valley to Beijing, this paper makes a theoretical and empirical analysis on the building and evolution of new cluster network in the process of industrial clusters’ relocation using multivariate Logistic regression method. It indicates that the formation process of the new cluster network involves the penetration of original cluster network and the embeddedness in local firm network. Many factors including the network position and the experiences of the relocated firm, environmental uncertainty, significantly influence the network relationship in the new cluster network. For those relocated firms, they will prefer to the embeddedness in local firm network rather than keep their original cluster network relationship as time goes by. Finally, this paper provides some suggestions on how to absorb the industrial cluster relocation for government and enterprises in the developing areas.