This paper presents a study on the mechanical, thermal, and electrical characterization of a new class of low cost multiphase nanocomposites consisting of Vinylester resin/epoxy (VER/EP) blend (40 : 60w/w) reinforced with amine functionalized multiwalled carbon nanotubes (f-MWCNTs). Five different sets of VER/EP nanocomposites are fabricated with addition of 0, 1, 3, 5, and 7 wt.% of f-MWCNTs. A detailed investigation of mechanical properties like tensile strength, impact strength, Young's modulus, and hardness, thermal properties like thermogravimetric analysis (TGA) and thermal conductivity, electrical properties like dielectric strength, dielectric constant, and electrical conductivity, and corrosive and swelling properties of the nanocomposites has been carried out. Here, we report significant improvement in all the above properties of the fabricated nanocomposites with nanofiller (f-MWCNTs) addition compared to the virgin blend (0 wt. nanofiller loading). The properties are best observed in case of 5wt.% nanofiller loading with gradual deterioration thereafter which may be due to the nucleating tendency of the nanofiller particles. Thus the above nanocomposites could be a preferable candidate for a wide range of structural, thermal, electrical, and solvent based applications.