New homoleptic nickel(0) and palladium(0) complexes with a water-soluble ligand, 1,3,5-triaza-7phosphaadamantane, were prepared and characterized by 1 H, 13 C, and 31 P NMR spectra. The complexes, together with the known analogous Ni(0) and Pd(0) complexes with tris(hydroxymethyl)phosphine, were found to be catalysts for buta-1,3-diene oligomerization or telomerization with water in an aqueous biphasic system without a cosolvent or a modifier. Tetrakis[tris(hydroxymethyl)phosphine]nickel (7) preferentially catalyzes oligomerization (both linear and cyclic) in the first example of a nickel-catalyzed buta-1,3-diene oligomerization in an aqueous biphasic system. Palladium complexes give telomers or linear oligomers in quantitative yields. In the case of the triazaphosphaadamantane complex 4, high selectivity to octadienyl ethers (87%) was observed. High values of metal leaching into the product phase in these reactions suggest an easy extraction of starting or intermediate metal complexes caused by the fact that both monomer and products are good ligands for the metal complexes in this particular case.Homogeneous catalysis with organometallic complexes in systems containing water has attracted much attention in recent years 1-3 and the field continues to develop at a steady pace. The principal advantage of carrying out the process in a two-phase system with the catalyst in an aqueous phase is the facility with which the products are separated from the catalyst.Since phosphine ligands are probably the most frequently used ancillary ligands in catalytic systems with transition metals, focus lies on transferring known catalytic processes with phosphine ligands from the organic to the biphasic aqueous medium. Sulfonation of the aromatic rings of triphenylphosphine and other ligands containing phenyl Nickel(0) and Palladium(0) Complexes