Vanadyl ion can easily coordinate to the so-called acac-anion and the resulting complex is neutral and as such easily dissolves in many organic apolar solvents.

Acetyl acetone has the following structure:

In aqueous solution, the compound easily forms tautomers and the following equilibrium occurs:

The enol form easily donates a H⁺ ion and then an anion, called acetylacetonate, also known as (acac) remains. This ion, with two adjacent oxygen atoms, forms a very strongly bidentately coordinating ion. One of the ions, easily coordinated, is vanadyl. The picture above shows the complex in its solid form, a blue/green compound, slightly soluble in water, much more soluble in many organic solvents.