Three novel fluorinated bis(biphenyl)diacetylene (1,4-bis(biphenyl-4-yl)buta-1,3-diyne) derivatives, with alkoxy tails at the terminal positions were prepared for use as high-birefringent nematic materials. To lower the thermal transition temperatures and determine the origin of the nematic phase of these compounds, fluorine atoms were introduced at lateral positions. Thermal transition temperatures and mesomorphic properties were investigated by differential scanning calorimetry and polarized optical microscopy. In addition, birefringence was measured using a microscopic method based on the interference method. Both the nematogenic properties and optical performances depended not only on the number of fluorine substituents, but also on the position of the substituents. The compound having the highest fluorine content exhibited the lowest birefringence, and the compound bearing fluorine atoms only on the inner benzene rings of the biphenyl cores exhibited an enantiotropic nematic phase with a maximum birefringence value of 0.48 at 550 nm and 140 °C.