-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
Originator-Key-Asymmetric:
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 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 NnphODunPunXyP8UR5eH+xdntfS5vIQqHplk3J4kDBu1hmSXuVERsN12s03RyjP/
 EX02wCw1OM9ll1+t+ujL8A==

<SEC-DOCUMENT>0001140361-10-012546.txt : 20100317
<SEC-HEADER>0001140361-10-012546.hdr.sgml : 20100317
<ACCEPTANCE-DATETIME>20100317142232
ACCESSION NUMBER:		0001140361-10-012546
CONFORMED SUBMISSION TYPE:	D/A
PUBLIC DOCUMENT COUNT:		1
ITEM INFORMATION:		Rule 506
ITEM INFORMATION:		Section 3(c)(7)
FILED AS OF DATE:		20100317
DATE AS OF CHANGE:		20100317
EFFECTIVENESS DATE:		20100317

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			MINLAM MICROFINANCE OFFSHORE FUND LTD
		CENTRAL INDEX KEY:			0001460700
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			E9
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		D/A
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	021-129555
		FILM NUMBER:		10688493

	BUSINESS ADDRESS:	
		STREET 1:		C/O M&C CORPORATE SERVICES LTD
		STREET 2:		P.O. BOX 309GT
		CITY:			GEORGETOWN
		STATE:			E9
		ZIP:			KY1-1104
		BUSINESS PHONE:		212-226-7897

	MAIL ADDRESS:	
		STREET 1:		C/O M&C CORPORATE SERVICES LTD
		STREET 2:		P.O. BOX 309GT
		CITY:			GEORGETOWN
		STATE:			E9
		ZIP:			KY1-1104
</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>0001460700</cik>
        <entityName>MINLAM MICROFINANCE OFFSHORE FUND LTD</entityName>
        <issuerAddress>
            <street1>UGLAND HOUSE</street1>
            <street2>SOUTH CHURCH STREET, PO BOX 309</street2>
            <city>GEORGETOWN, GRAND CAYMAN</city>
            <stateOrCountry>E9</stateOrCountry>
            <zipCode>KY1-1104</zipCode>
        </issuerAddress>
        <issuerPhoneNumber>212-226-7897</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>2006</value>
        </yearOfInc>
    </primaryIssuer>

    <relatedPersonsList>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>N/A</firstName>
                <lastName>Minlam Asset Management LLC</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>161 Avenue of the Americas</street1>
                <street2>2nd Floor</street2>
                <city>New York</city>
                <stateOrCountry>NY</stateOrCountry>
                <zipCode>10013</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Promoter</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>Investment Manager of the Issuer</relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Michael</firstName>
                <lastName>Parker</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>161 Avenue of the Americas</street1>
                <street2>2nd Floor</street2>
                <city>New York</city>
                <stateOrCountry>NY</stateOrCountry>
                <zipCode>10013</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Director</relationship>
                <relationship>Promoter</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>Director of the Issuer; Principal and Chief Executive Officer of the Investment Manager</relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Michael</firstName>
                <lastName>Hokenson</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>161 Avenue of the Americas</street1>
                <street2>2nd Floor</street2>
                <city>New York</city>
                <stateOrCountry>NY</stateOrCountry>
                <zipCode>10013</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Promoter</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>Principal and Managing Director of the Investment Manager</relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Jacob</firstName>
                <lastName>Haar</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>161 Avenue of the Americas</street1>
                <street2>2nd Floor</street2>
                <city>New York</city>
                <stateOrCountry>NY</stateOrCountry>
                <zipCode>10013</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Promoter</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>Principal and Managing Director of the Investment Manager</relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Rohinton</firstName>
                <lastName>Dadina</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>161 Avenue of the Americas</street1>
                <street2>2nd Floor</street2>
                <city>New York</city>
                <stateOrCountry>NY</stateOrCountry>
                <zipCode>10013</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Promoter</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>Principal and Chief Credit Officer of the Investment Manager</relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Ronan</firstName>
                <lastName>Guilfoyle</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>c/o dms Management Ltd.</street1>
                <street2>20 Genesis Close</street2>
                <city>Grand Cayman</city>
                <stateOrCountry>E9</stateOrCountry>
                <zipCode>KY1-1208</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
        </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.7</item>
        </federalExemptionsExclusions>
        <typeOfFiling>
            <newOrAmendment>
                <isAmendment>true</isAmendment>
                <previousAccessionNumber>9999999997-09-015159</previousAccessionNumber>
            </newOrAmendment>
            <dateOfFirstSale>
                <value>2007-10-01</value>
            </dateOfFirstSale>
        </typeOfFiling>
        <durationOfOffering>
            <moreThanOneYear>true</moreThanOneYear>
        </durationOfOffering>
        <typesOfSecuritiesOffered>
            <isPooledInvestmentFundType>true</isPooledInvestmentFundType>
            <isOtherType>true</isOtherType>
            <descriptionOfOtherType>Shares</descriptionOfOtherType>
        </typesOfSecuritiesOffered>
        <businessCombinationTransaction>
            <isBusinessCombinationTransaction>false</isBusinessCombinationTransaction>
        </businessCombinationTransaction>
        <minimumInvestmentAccepted>1000000</minimumInvestmentAccepted>
        <salesCompensationList></salesCompensationList>
        <offeringSalesAmounts>
            <totalOfferingAmount>Indefinite</totalOfferingAmount>
            <totalAmountSold>10000000</totalAmountSold>
            <totalRemaining>Indefinite</totalRemaining>
            <clarificationOfResponse>The minimum investment referenced in Item 11 may be reduced at the discretion of the Board of Directors.  This Form D reports only sales in the United States and is not adjusted for redemptions.</clarificationOfResponse>
        </offeringSalesAmounts>
        <investors>
            <hasNonAccreditedInvestors>false</hasNonAccreditedInvestors>
            <totalNumberAlreadyInvested>1</totalNumberAlreadyInvested>
        </investors>
        <salesCommissionsFindersFees>
            <salesCommissions>
                <dollarAmount>0</dollarAmount>
            </salesCommissions>
            <findersFees>
                <dollarAmount>0</dollarAmount>
            </findersFees>
        </salesCommissionsFindersFees>
        <useOfProceeds>
            <grossProceedsUsed>
                <dollarAmount>0</dollarAmount>
                <isEstimate>true</isEstimate>
            </grossProceedsUsed>
            <clarificationOfResponse>Certain persons named in Item 3 or affiliate(s) therefo may receive payments deemed to be made from the proceeds of the offering, including management fees and incentive allocations.  The amounts of such payments cannot be estimated at this time.</clarificationOfResponse>
        </useOfProceeds>
        <signatureBlock>
            <authorizedRepresentative>false</authorizedRepresentative>
            <signature>
                <issuerName>MINLAM MICROFINANCE OFFSHORE FUND LTD</issuerName>
                <signatureName>/s/ Michael Parker</signatureName>
                <nameOfSigner>Michael Parker</nameOfSigner>
                <signatureTitle>Director</signatureTitle>
                <signatureDate>2010-03-17</signatureDate>
            </signature>
        </signatureBlock>
    </offeringData>
</edgarSubmission>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----