Flow-Induced Vibration (FIV) is probably the most critical dynamic issue in the design of heat exchangers. This fluid-structure phenomenon may generate high amplitude vibration of tubes or structural parts, which leads to clashing between internal components or even its fatigue failure. Many test benches have been constructed to study this phenomenon, however, some vibration mechanisms, mostly those related to multiphase flow, are not yet fully understood. Therefore, in this work, an experimental study on the characteristics of a dynamic structure devoted to the study of multiphase flow-induced vibrations in tube bundles under vertical counter gravity cross flow is presented. The dynamic structure used for this project is composed of a system of tensioned piano wires that allow the first natural frequency of the tube to be calibrated. The test section consists of a triangular tube bundle, presenting 19 mm OD tubes and transversal pitch per diameter ratio of 1.26. It counts with one flexible tube, while the remaining tubes are rigidly fixed. This paper presents tests in air environment aiming at addressing the mode shapes and resonance frequencies of the dynamic structure. Also, damping in air was calculated by using the Maximum Frequency Spacing method in combination with the Eigensystem Realization Algorithm. Subsequently, experiments for water single-flow were performed and analyzed. Finally, tests for two-phase air-water flow were carried out; the influence of void fraction on vibration amplitude, resonance frequencies and damping was checked; damping results were compared with published results of previous FIV experimental tests performed. Keywords: flexible mounted tube, flow-induced vibration, multiphase flow, void fraction, resonance frequency NOMENCLATURE f = frequency, Hz H = distance between attachment point, m I = moment of inertia, kg − m 2 K = stiffness matrix L = piano wire length, m M = mass matrix m = tube mass, kg T = tension in piano wires, N U = pitch flow velocity, m/s Greek Symbols α = void fraction, dimensionless ζ = viscous damping ratio, dimension-less η = damping loss factor, dimensionless τ = pitch-to-diameter ratio, dimension-less ψ = mode of vibration, dimensionless ω = circular frequency, rad/s Subscripts 0 = relative to the center of the tube 1,2 = relative to half-power bandwidth points r = relative to rth mode of vibration 2ϕ = relative to two-phase flow