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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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<SEC-DOCUMENT>0001477053-10-000002.txt : 20101229
<SEC-HEADER>0001477053-10-000002.hdr.sgml : 20101229
<ACCEPTANCE-DATETIME>20101229135336
ACCESSION NUMBER:		0001477053-10-000002
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)(1)
FILED AS OF DATE:		20101229
DATE AS OF CHANGE:		20101229
EFFECTIVENESS DATE:		20101229

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Talon Fund I, LP
		CENTRAL INDEX KEY:			0001477053
		IRS NUMBER:				271153192
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		D/A
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	021-136256
		FILM NUMBER:		101277875

	BUSINESS ADDRESS:	
		STREET 1:		2219 PASADENA PLACE SOUTH
		CITY:			GULFPORT
		STATE:			FL
		ZIP:			33707
		BUSINESS PHONE:		727.644.3883

	MAIL ADDRESS:	
		STREET 1:		2219 PASADENA PLACE SOUTH
		CITY:			GULFPORT
		STATE:			FL
		ZIP:			33707
</SEC-HEADER>
<DOCUMENT>
<TYPE>D/A
<SEQUENCE>1
<FILENAME>primary_doc.xml
<TEXT>
<XML>
<?xml version="1.0"?>
<edgarSubmission>

    <schemaVersion>X0704</schemaVersion>

    <submissionType>D/A</submissionType>

    <testOrLive>LIVE</testOrLive>

    <primaryIssuer>
        <cik>0001477053</cik>
        <entityName>Talon Fund I, LP</entityName>
        <issuerAddress>
            <street1>2219 PASADENA PLACE SOUTH</street1>
            <city>GULFPORT</city>
            <stateOrCountry>FL</stateOrCountry>
            <stateOrCountryDescription>FLORIDA</stateOrCountryDescription>
            <zipCode>33707</zipCode>
        </issuerAddress>
        <issuerPhoneNumber>727.644.3883</issuerPhoneNumber>
        <jurisdictionOfInc>DELAWARE</jurisdictionOfInc>
        <issuerPreviousNameList>
            <value>None</value>
        </issuerPreviousNameList>
        <edgarPreviousNameList>
            <value>None</value>
        </edgarPreviousNameList>
        <entityType>Limited Partnership</entityType>
        <yearOfInc>
            <withinFiveYears>true</withinFiveYears>
            <value>2009</value>
        </yearOfInc>
    </primaryIssuer>

    <relatedPersonsList>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Ernest</firstName>
                <middleName>C.</middleName>
                <lastName>Segundo, Jr.</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>c/o Pandion Capital, LLC</street1>
                <street2>2219 Pasadena Place South</street2>
                <city>Gulfport</city>
                <stateOrCountry>FL</stateOrCountry>
                <stateOrCountryDescription>FLORIDA</stateOrCountryDescription>
                <zipCode>33707</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Promoter</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>Ernest C. Segundo, Jr. is the member of Pandion Holdings, LLC, the general partner of the Issuer, and the member of Pandion Capital, LLC, the investment manager of the Issuer.</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.1</item>
        </federalExemptionsExclusions>
        <typeOfFiling>
            <newOrAmendment>
                <isAmendment>true</isAmendment>
                <previousAccessionNumber>0001477053-09-000001</previousAccessionNumber>
            </newOrAmendment>
            <dateOfFirstSale>
                <value>2009-11-01</value>
            </dateOfFirstSale>
        </typeOfFiling>
        <durationOfOffering>
            <moreThanOneYear>true</moreThanOneYear>
        </durationOfOffering>
        <typesOfSecuritiesOffered>
            <isPooledInvestmentFundType>true</isPooledInvestmentFundType>
        </typesOfSecuritiesOffered>
        <businessCombinationTransaction>
            <isBusinessCombinationTransaction>false</isBusinessCombinationTransaction>
            <clarificationOfResponse></clarificationOfResponse>
        </businessCombinationTransaction>
        <minimumInvestmentAccepted>50000</minimumInvestmentAccepted>
        <salesCompensationList></salesCompensationList>
        <offeringSalesAmounts>
            <totalOfferingAmount>Indefinite</totalOfferingAmount>
            <totalAmountSold>630000</totalAmountSold>
            <totalRemaining>Indefinite</totalRemaining>
            <clarificationOfResponse>A lesser amount of the stated minimum contribution of $50,000 may be accepted at the discretion of the general partner.</clarificationOfResponse>
        </offeringSalesAmounts>
        <investors>
            <hasNonAccreditedInvestors>false</hasNonAccreditedInvestors>
            <totalNumberAlreadyInvested>11</totalNumberAlreadyInvested>
        </investors>
        <salesCommissionsFindersFees>
            <salesCommissions>
                <dollarAmount>0</dollarAmount>
            </salesCommissions>
            <findersFees>
                <dollarAmount>0</dollarAmount>
            </findersFees>
            <clarificationOfResponse></clarificationOfResponse>
        </salesCommissionsFindersFees>
        <useOfProceeds>
            <grossProceedsUsed>
                <dollarAmount>0</dollarAmount>
            </grossProceedsUsed>
            <clarificationOfResponse>The general partner is entitled to a performance allocation. The terms of the performance allocation are fully discussed in the Issuer's confidential offering materials.</clarificationOfResponse>
        </useOfProceeds>
        <signatureBlock>
            <authorizedRepresentative>false</authorizedRepresentative>
            <signature>
                <issuerName>Talon Fund I, LP</issuerName>
                <signatureName>Ernest C. Segundo, Jr.</signatureName>
                <nameOfSigner>Ernest C. Segundo, Jr.</nameOfSigner>
                <signatureTitle>Member of Pandion Holdings, LLC</signatureTitle>
                <signatureDate>2010-12-29</signatureDate>
            </signature>
        </signatureBlock>
    </offeringData>
</edgarSubmission>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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