Our world is increasingly faced with wicked environmental sustainability challenges, requiring entrepreneurs to work in multi-stakeholder initiatives (MSIs) to address these challenges. Network orchestration is essential for these MSIs to realize their sustainability goals and make an impact. The concept of opportunity beliefs is central in understanding the actions taken by these entrepreneurs. However, the current theorization of opportunity beliefs formation is individual-centric. Furthermore, there is little understanding of how orchestration influences the opportunity beliefs formation in multi-stakeholder teams. We build on the framework of McMullen and Shepherd (2016), who presented a two-stage model of how third-person opportunity beliefs transform into first-person opportunity beliefs. We advance two contributions by using a single case study and applying the Gioia method to code and analyze the data. First is a two-stage model consisting of the formation of joint first-person opportunity beliefs that suggests that value-aligning and informing resource orchestration activities are essential in this process. Second, we advance the idea that the resource orchestration activities have both enabling and adversely constraining effects impairing the formation of joint first-person opportunity beliefs under conditions of organizational pressure.