Abstract A new triphenylphosphane based on a β-cyclodextrin skeleton (PM-β-CD-OTPP) was synthesized. This ligand can be dispersed in water by using the nanoprecipitation method. Transmission electron microscopy and NMR spectroscopy showed that PM-β-CD- OTPP is aggregated in water and forms a stable dispersion. Its aqueous solubility can be dramatically increased in the presence of selected water-soluble guests by formation of ...