This paper examines relationships between three dimensions of network relations on the inter-group level and the performance of strategic initiatives. Findings suggest inverted U-shaped relationships between performance and relational and structural dimensions of networks, and a linear, positive relationship for the cognitive dimension. In addition, exploration moderates relationships between performance and all three dimensions of inter-group networks. Compared to exploitation initiatives, negative consequences of strong ties and centrality are more pronounced in exploratory initiatives. Although exploratory groups appear to benefit less from increases in shared vision, shared vision is a positive influence on performance for both types of initiatives.