A research need exists regarding the relationship between entrepreneurial team informational diversity and team performance, including the conditions under which such diversity might benefit performance. This study explores the moderating effect of shared leadership on the relationship between informational diversity and entrepreneurial team performance. Four dimensions are used to measure informational diversity: functional specialty, educational specialty, educational level, and managerial skills. The results show that functional specialty diversity can improve entrepreneurial team performance. Managerial skill diversity can improve entrepreneurial team performance when leadership is shared among team members. These findings advance the understanding of entrepreneurial team performance and provide practical implications regarding team structure.