The“14th Five-Year Plan”puts forward the development of strategic new industries, accelerating the construction of a modern industrial system of national major strategic deployment.Therefore, power grid enterprises need to expand their emerging business to enhance their own benefits. Firstly, a social network based on investment value evaluation system for emerging businesses in power grids is constructed from social, policy, economic,technological and environmental dimensions, and the CRITIC-sequential relationship analysis integrated weighting method is adopted to combine the advantages of subjective and objective weighting method to set the weights of indicators. Then, an investment decision optimisation model for emerging business portfolios in power grids is constructed with the business portfolio contribution degree as the objective function, and the investment decision optimisation model is based on a two-stage variation. The investment decision optimization model is solved based on a two-stage variational evolutionary algorithm. The applicability of the proposed business portfolio investment decision optimization model and the superiority of the two-stage variational differential evolutionary algorithm are verified through case studies.