To overcome the limitations of the conventional encapsulation methods and improve the potential use of the electrospray method as a drug delivery system, an electrospray system using a triple coaxial nozzle was developed to generate multishell capsules. Two conducting fluids, ethylene glycol and 4-hydroxybutyl acrylate, and one nonconducting fluid, olive oil, were chosen to manufacture the multishell capsules. The capsules were solidified by a photopolymerization device. We investigated the size distributions and visualized the capsules changing fluid flow rates. Dispersive Raman spectra were also monitored to determine the chemical composition of the capsules. The multishell capsules were generated in the overlapped cone-jet mode regime of the conducting fluids, and the sizes and shell thicknesses were controlled by the flow rates and applied voltages.