Existing research suggests that elite clubs exist in venture capital markets, but a standard for determining their size and composition is lacking. This paper addresses this challenge by using the weighted k-means sorting algorithm to construct a research framework for elite clubs. Validating the framework with investment events data from China’s venture capital market (2001–2018), intriguing findings emerge. The ranking of Venture Capitalists (VCs) follows a power-law distribution, providing evidence for elite clubs’ existence. The analysis identifies a turning point in the score curve, serving as a valuable indicator for club boundaries. Elite clubs demonstrate relatively high stability, maintaining advantages and elite status in future competitions. Empirical validation confirms the proposed framework’s superior stability compared to existing methods. Importantly, elite club members outperform non-elites significantly. This paper effectively identifies elite clubs in the Chinese venture capital market, helping other VCs recognize potential partners, access high-quality information, and enhance investment performance.