A novel Raman spectroscopy setup for the investigation of multiphase fluid mixtures is proposed. The total output of a frequency-doubled Nd:YAG laser is separated into a strong 532 nm beam for generating Raman signals in the vapor phase and the weak residual of the fundamental 1064 nm radiation to be utilized as laser source for Raman scattering in the liquid phase. This approach will provide sufficient signal intensity from the gas (despite low density) for determination of mixture composition and at the same time it facilitates recording high-resolution spectra from the liquid in order to allow studying molecular physics phenomena together with concentration measurements.