Well defined star copolymers have been prepared by copper-catalyzed atom transfer radical copolymerization of styrene and styryldiphenylphosphine starting from a modified Boltorn™ H30 multifunctional initiator. These polymers and an analogue obtained by debromination of the arm ends with nBu3SnH have been used in combination with [Rh(acac)(CO)2] for the homogeneous phase hydroformylation of 1-octene.