In platelets, coagulation cofactor V is stored in complex with multimerin 1 in ␣-granules for activation-induced release during clot formation. The molecular nature of multimerin 1 factor V binding has not been determined, although multimerin 1 is known to interact with the factor V light chain. We investigated the region in factor V important for multimerin 1 binding using modified enzyme-linked immunoassays and recombinant factor V constructs. Factor V constructs lacking the C2 region or entire light chain had impaired and absent multimerin 1 binding, respectively, whereas the B domain deleted construct had modestly reduced binding. Analyses of point mutated constructs indicated that the multimerin 1 binding site in the C2 domain of factor V partially overlaps the phosphatidylserine binding site and that the factor V B domain enhances multimerin 1 binding. Multimerin 1 did not inhibit factor V phosphatidylserine binding, and it bound to phosphatidylserine independently of factor V. There was a reduction in factor V in complex with multimerin 1 after activation, and thrombin cleavage significantly reduced factor V binding to multimerin 1. In molar excess, multimerin 1 minimally reduced factor V procoagulant activity in prothrombinase assays and only if it was added before factor V activation. The dissociation of factor V-multimerin 1 complexes following factor V activation suggests a role for multimerin 1 in delivering and localizing factor V onto platelets prior to prothrombinase assembly.Activated coagulation factor V is a key non-enzymatic cofactor that is an essential component of the prothrombinase complex (1, 2). The active form of factor V, factor Va, is generated through consecutive cleavages by thrombin or factor Xa at residues Arg-709, Arg-1018, and Arg-1545, which produce factor Va heterodimers containing a heavy chain (A1 and A2 domains) and light chain (A3, C1, and C2 domains). The B domain of factor V, which facilitates thrombin cleavage and enhances factor V anticoagulant activity, is released on activation (3-7). The incorporation of factor Va into the prothrombinase complex provides binding sites for factor Xa, resulting in a 300,000-fold increase in the V max of prothrombin activation (8, 9).In blood, much of the procoagulant factor V is stored in platelets as a complex with the ␣-granule protein multimerin 1 (MMRN1) for activation-induced release during clot formation (10, 11). Several differences have been noted in the functional properties of platelet and plasma factor V (reviewed in Ref. 12), which are encoded by the same gene (1), but the contributions of MMRN1 1 to these differences are unknown. MMRN1 is recognized to bind factor V, factor Va, and the isolated light chain of factor Va (11). Studies of activated platelets show that factor V-MMRN1 complexes dissociate after exposure to thrombin (11), similar to the way factor VIII-von Willebrand factor (VWF) 1 complexes dissociate upon exposure to thrombin to liberate factor VIIIa for tenase complex assembly during coagulation (13). This i...