Phosphonate-functionalized polymer nanoparticles were synthesized by free-radical copolymerization of vinylphosphonic acid (VPA) with styrene or methyl methacrylate (MMA) using the miniemulsion technique. The influence of different parameters such as monomer and surfactant type, amount of vinylphosphonic acid on the average particle size, and size distribution was studied using dynamic light scattering and transmission electron microscopy. Depending on the amount and type of the surfactant used (ionic or non-ionic), phosphonate-functionalized particles in a size range from 102 to 312 nm can be obtained. The density of the phosphonate groups on the particle surface was higher in the case of using MMA as a basis monomer than polystyrene. The kinetic behavior of VPA copolymerization with styrene or MMA using a hydrophobic initiator was investigated by reaction calorimetry. Different kinetic curves were observed for miniemulsion (co)polymerization of styrene- and MMA-based nanoparticles indicating different nucleation mechanisms.