Reverse‐micelle‐like CAMs derived from HPEI, which exist as either aggregates or unimolecular micelles, show selectivity upon the encapsulation of water‐soluble and ionic dyes. For rigid dyes, the encapsulating ability is very weak, while for less rigid ones, the encapsulation is dependent on their electronic properties. Through electronic engineering of the CAM, the complementary CAM/dye interaction strengths can be greatly favored or disfavored. Electronic engineering of the CAM can also exert a non‐linear effect on the guest affinities and thus amplify the difference of the competitive guest species and further lead to highly selective encapsulations. Even if one dye species is complexed by another dye species, highly selective encapsulation can still be realized by a CAM.magnified image