The synthesis of a novel and multifunctional copolymer based on a human serum albumin backbone bearing several folic acid as well as PEO groups was presented. In solution, this side-chain copolymer adopts a globular architecture and about five molecules of the water-insoluble chromophore PDI were successfully incorporated into these micelles for receptor-mediated cell uptake investigations. A significant uptake of these bioconjugates via receptor-mediated endocytosis was detected for cells expressing folic acid receptors in the cell membrane. These novel albumin-based copolymers could serve as efficient and biocompatible carrier systems facilitating the directed delivery of lipophilic drug molecules into cancer cells and they allow investigating vesicle formation and trafficking even at the single molecule level.