Starting from the fourfold ethynyl-substituted chromophore 1,3,6,8-tetraethynylpyrene as core, a series of polyphenylene dendrimers was prepared in high yield by combining divergent and convergent growth methods. The fluorescence quantum yields (Q(f)>0.92) of the encapsulated pyrene chromophore were independent of the size of the polyphenylene shell. Fluorescence quenching studies and temperature-dependent fluorescence spectroscopy were performed to investigate the site isolation of the core. They indicate that a second-generation dendrimer layer is needed to efficiently shield the encapsulated pyrene and prevent aggregate formation. Alkali-metal reduction of the encapsulated pyrene core was carried out to afford the corresponding pyrene radical anions, for which hampered electron transfer to the core was observed with increasing dendrimer generation, which is further proof of the site isolation due to the polyphenylene shell. To improve film formation and solubility of the material, solubilizing alkyl chains were introduced on the periphery of the spherical particles. Furthermore, highly transparent films obtained by a simple drop-casting method showed blue emission mainly from the unaggregated species. The materials presented herein combine high quantum efficiency, good solubility, and improved film-forming properties, which make them possible candidates for several applications in electronic devices.