-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
Originator-Key-Asymmetric:
 MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen
 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 CqLmuXzAm/Oj4SXLMl8oua3LupE26Dsx8+4qwWadt86OdnQsAixoR9QT1aTEUuig
 wm1iBY2gNTYSQWu4pqZDAw==

<SEC-DOCUMENT>0001439413-09-000002.txt : 20091021
<SEC-HEADER>0001439413-09-000002.hdr.sgml : 20091021
<ACCEPTANCE-DATETIME>20091021151830
ACCESSION NUMBER:		0001439413-09-000002
CONFORMED SUBMISSION TYPE:	D/A
PUBLIC DOCUMENT COUNT:		1
ITEM INFORMATION:		Rule 506
ITEM INFORMATION:		Investment Company Act Section 3(c)
ITEM INFORMATION:		Section 3(c)(7)
FILED AS OF DATE:		20091021
DATE AS OF CHANGE:		20091021
EFFECTIVENESS DATE:		20091021

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			SERENGETI RAPAX FUND LTD
		CENTRAL INDEX KEY:			0001439416
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			E9

	FILING VALUES:
		FORM TYPE:		D/A
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	021-119959
		FILM NUMBER:		091130067

	BUSINESS ADDRESS:	
		STREET 1:		C/O WALKERS SPV LTD
		STREET 2:		WALKER HOUSE, 87 MARY STREET
		CITY:			GEORGE TOWN
		STATE:			E9
		ZIP:			KY1-9002
		BUSINESS PHONE:		212-672-2232

	MAIL ADDRESS:	
		STREET 1:		C/O WALKERS SPV LTD
		STREET 2:		WALKER HOUSE, 87 MARY STREET
		CITY:			GEORGE TOWN
		STATE:			E9
		ZIP:			KY1-9002
</SEC-HEADER>
<DOCUMENT>
<TYPE>D/A
<SEQUENCE>1
<FILENAME>primary_doc.xml
<TEXT>
<XML>
<?xml version="1.0"?>
<edgarSubmission>

    <schemaVersion>X0603</schemaVersion>

    <submissionType>D/A</submissionType>

    <testOrLive>LIVE</testOrLive>

    <primaryIssuer>
        <cik>0001439416</cik>
        <entityName>SERENGETI RAPAX FUND LTD</entityName>
        <issuerAddress>
            <street1>WALKER HOUSE, 87 MARY STREET</street1>
            <city>GEORGE TOWN, GRAND CAYMAN</city>
            <stateOrCountry>E9</stateOrCountry>
            <zipCode>KY1-9002</zipCode>
        </issuerAddress>
        <issuerPhoneNumber>212-672-2232</issuerPhoneNumber>
        <jurisdictionOfInc>CAYMAN ISLANDS</jurisdictionOfInc>
        <issuerPreviousNameList>
            <value>None</value>
        </issuerPreviousNameList>
        <edgarPreviousNameList>
            <value>None</value>
        </edgarPreviousNameList>
        <entityType>Other</entityType>
        <entityTypeOtherDesc>Cayman Islands Exempted Company</entityTypeOtherDesc>
        <yearOfInc>
            <withinFiveYears>true</withinFiveYears>
            <value>2008</value>
        </yearOfInc>
    </primaryIssuer>

    <relatedPersonsList>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>MICHELLE</firstName>
                <middleName>M.</middleName>
                <lastName>WILSON-CLARKE</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>C/O WALKERS SPV LIMITED</street1>
                <street2>WALKER HOUSE, 87 MARY STREET</street2>
                <city>GEORGE TOWN, GRAND CAYMAN</city>
                <stateOrCountry>E9</stateOrCountry>
                <zipCode>KY1-9002</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification></relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>ALISON</firstName>
                <lastName>MARTINSON</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>C/O WALKERS SPV LIMITED</street1>
                <street2>WALKER HOUSE, 87 MARY STREET</street2>
                <city>GEORGE TOWN, GRAND CAYMAN</city>
                <stateOrCountry>E9</stateOrCountry>
                <zipCode>KY1-9002</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification></relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>JOSEPH</firstName>
                <middleName>A.</middleName>
                <lastName>LANASA III</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>C/O SERENGETI ASSET MANAGEMENT LP</street1>
                <street2>632 BROADWAY, 12TH FLOOR</street2>
                <city>NEW YORK</city>
                <stateOrCountry>NY</stateOrCountry>
                <zipCode>10012</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>SOLE MEMBER OF THE GENERAL PARTNER OF THE MANAGER</relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>ALEXANDER</firstName>
                <lastName>LEMOND</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>C/O SERENGETI ASSET MANAGEMENT LP</street1>
                <street2>632 BROADWAY, 12TH FLOOR</street2>
                <city>NEW YORK</city>
                <stateOrCountry>NY</stateOrCountry>
                <zipCode>10012</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification></relationshipClarification>
        </relatedPersonInfo>
    </relatedPersonsList>

    <offeringData>
        <industryGroup>
            <industryGroupType>Pooled Investment Fund</industryGroupType>
            <investmentFundInfo>
                <investmentFundType>Hedge Fund</investmentFundType>
                <is40Act>false</is40Act>
            </investmentFundInfo>
        </industryGroup>
        <issuerSize>
            <aggregateNetAssetValueRange>Decline to Disclose</aggregateNetAssetValueRange>
        </issuerSize>
        <federalExemptionsExclusions>
            <item>06</item>
            <item>3C</item>
            <item>3C.7</item>
        </federalExemptionsExclusions>
        <typeOfFiling>
            <newOrAmendment>
                <isAmendment>true</isAmendment>
                <previousAccessionNumber>9999999997-08-031007</previousAccessionNumber>
            </newOrAmendment>
            <dateOfFirstSale>
                <value>2008-02-01</value>
            </dateOfFirstSale>
        </typeOfFiling>
        <durationOfOffering>
            <moreThanOneYear>true</moreThanOneYear>
        </durationOfOffering>
        <typesOfSecuritiesOffered>
            <isPooledInvestmentFundType>true</isPooledInvestmentFundType>
        </typesOfSecuritiesOffered>
        <businessCombinationTransaction>
            <isBusinessCombinationTransaction>false</isBusinessCombinationTransaction>
            <clarificationOfResponse></clarificationOfResponse>
        </businessCombinationTransaction>
        <minimumInvestmentAccepted>5000000</minimumInvestmentAccepted>
        <salesCompensationList></salesCompensationList>
        <offeringSalesAmounts>
            <totalOfferingAmount>Indefinite</totalOfferingAmount>
            <totalAmountSold>301844400</totalAmountSold>
            <totalRemaining>Indefinite</totalRemaining>
            <clarificationOfResponse></clarificationOfResponse>
        </offeringSalesAmounts>
        <investors>
            <hasNonAccreditedInvestors>false</hasNonAccreditedInvestors>
            <totalNumberAlreadyInvested>40</totalNumberAlreadyInvested>
        </investors>
        <salesCommissionsFindersFees>
            <salesCommissions>
                <dollarAmount>0</dollarAmount>
            </salesCommissions>
            <findersFees>
                <dollarAmount>0</dollarAmount>
            </findersFees>
            <clarificationOfResponse></clarificationOfResponse>
        </salesCommissionsFindersFees>
        <useOfProceeds>
            <grossProceedsUsed>
                <dollarAmount>0</dollarAmount>
            </grossProceedsUsed>
            <clarificationOfResponse></clarificationOfResponse>
        </useOfProceeds>
        <signatureBlock>
            <authorizedRepresentative>false</authorizedRepresentative>
            <signature>
                <issuerName>SERENGETI RAPAX FUND LTD</issuerName>
                <signatureName>ALEXANDER LEMOND</signatureName>
                <nameOfSigner>ALEXANDER LEMOND</nameOfSigner>
                <signatureTitle>DIRECTOR</signatureTitle>
                <signatureDate>2009-10-21</signatureDate>
            </signature>
        </signatureBlock>
    </offeringData>
</edgarSubmission>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----