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Proc-Type: 2001,MIC-CLEAR
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<SEC-DOCUMENT>0001516452-11-000001.txt : 20110330
<SEC-HEADER>0001516452-11-000001.hdr.sgml : 20110330
<ACCEPTANCE-DATETIME>20110330112046
ACCESSION NUMBER:		0001516452-11-000001
CONFORMED SUBMISSION TYPE:	D
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:		20110330
DATE AS OF CHANGE:		20110330
EFFECTIVENESS DATE:		20110330

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Indaba Capital Fund, L.P.
		CENTRAL INDEX KEY:			0001516452
		IRS NUMBER:				273363688
		STATE OF INCORPORATION:			E9
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		D
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	021-157546
		FILM NUMBER:		11720869

	BUSINESS ADDRESS:	
		STREET 1:		MAPLES CORPORATE SERVICES
		STREET 2:		121 SOUTH CHURCH STREET
		CITY:			GRAND CAYMAN
		STATE:			E9
		ZIP:			KY1-1104
		BUSINESS PHONE:		345 949 8066

	MAIL ADDRESS:	
		STREET 1:		MAPLES CORPORATE SERVICES
		STREET 2:		121 SOUTH CHURCH STREET
		CITY:			GRAND CAYMAN
		STATE:			E9
		ZIP:			KY1-1104
</SEC-HEADER>
<DOCUMENT>
<TYPE>D
<SEQUENCE>1
<FILENAME>primary_doc.xml
<TEXT>
<XML>
<?xml version="1.0"?>
<edgarSubmission>

    <schemaVersion>X0704</schemaVersion>

    <submissionType>D</submissionType>

    <testOrLive>LIVE</testOrLive>

    <primaryIssuer>
        <cik>0001516452</cik>
        <entityName>Indaba Capital Fund, L.P.</entityName>
        <issuerAddress>
            <street1>MAPLES CORPORATE SERVICES</street1>
            <street2>121 SOUTH CHURCH STREET</street2>
            <city>GRAND CAYMAN</city>
            <stateOrCountry>E9</stateOrCountry>
            <stateOrCountryDescription>CAYMAN ISLANDS</stateOrCountryDescription>
            <zipCode>KY1-1104</zipCode>
        </issuerAddress>
        <issuerPhoneNumber>345 949 8066</issuerPhoneNumber>
        <jurisdictionOfInc>CAYMAN ISLANDS</jurisdictionOfInc>
        <issuerPreviousNameList>
            <value>None</value>
        </issuerPreviousNameList>
        <edgarPreviousNameList>
            <value>None</value>
        </edgarPreviousNameList>
        <entityType>Limited Partnership</entityType>
        <yearOfInc>
            <withinFiveYears>true</withinFiveYears>
            <value>2010</value>
        </yearOfInc>
    </primaryIssuer>

    <relatedPersonsList>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>n/a</firstName>
                <lastName>Indaba Partners, LLC</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>One Letterman Drive</street1>
                <street2>Building D, Suite DM700</street2>
                <city>San Francisco</city>
                <stateOrCountry>CA</stateOrCountry>
                <stateOrCountryDescription>CALIFORNIA</stateOrCountryDescription>
                <zipCode>94129</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Promoter</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>General Partner of the Issuer (the &quot;GP&quot;).</relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Derek</firstName>
                <middleName>C.</middleName>
                <lastName>Schrier</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>One Letterman Drive</street1>
                <street2>Building D, Suite DM700</street2>
                <city>San Francisco</city>
                <stateOrCountry>CA</stateOrCountry>
                <stateOrCountryDescription>CALIFORNIA</stateOrCountryDescription>
                <zipCode>94129</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>Managing Partner and Chief Investment Officer of the GP of the Issuer.</relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Thomas</firstName>
                <middleName>E.</middleName>
                <lastName>McConnon</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>One Letterman Drive</street1>
                <street2>Building D, Suite DM700</street2>
                <city>San Francisco</city>
                <stateOrCountry>CA</stateOrCountry>
                <stateOrCountryDescription>CALIFORNIA</stateOrCountryDescription>
                <zipCode>94129</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>Partner of the GP of the Issuer.</relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Joshua</firstName>
                <middleName>E.</middleName>
                <lastName>Prime</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>One Letterman Drive</street1>
                <street2>Building D, Suite DM700</street2>
                <city>San Francisco</city>
                <stateOrCountry>CA</stateOrCountry>
                <stateOrCountryDescription>CALIFORNIA</stateOrCountryDescription>
                <zipCode>94129</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>Partner of the GP of the Issuer.</relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Anthony</firstName>
                <middleName>A.</middleName>
                <lastName>Hassan</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>One Letterman Drive</street1>
                <street2>Building D, Suite DM700</street2>
                <city>San Francisco</city>
                <stateOrCountry>CA</stateOrCountry>
                <stateOrCountryDescription>CALIFORNIA</stateOrCountryDescription>
                <zipCode>94129</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>Partner, Chief Financial Officer and Chief Operating Officer of the GP of the Issuer.</relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Hank</firstName>
                <lastName>Brier</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>One Letterman Drive</street1>
                <street2>Building D, Suite DM700</street2>
                <city>San Francisco</city>
                <stateOrCountry>CA</stateOrCountry>
                <stateOrCountryDescription>CALIFORNIA</stateOrCountryDescription>
                <zipCode>94129</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>Partner and General Counsel of the GP of the Issuer.</relationshipClarification>
        </relatedPersonInfo>
    </relatedPersonsList>

    <offeringData>
        <industryGroup>
            <industryGroupType>Pooled Investment Fund</industryGroupType>
            <investmentFundInfo>
                <investmentFundType>Private Equity Fund</investmentFundType>
                <is40Act>false</is40Act>
            </investmentFundInfo>
        </industryGroup>
        <issuerSize>
            <revenueRange>Decline to Disclose</revenueRange>
        </issuerSize>
        <federalExemptionsExclusions>
            <item>06</item>
            <item>3C</item>
            <item>3C.7</item>
        </federalExemptionsExclusions>
        <typeOfFiling>
            <newOrAmendment>
                <isAmendment>false</isAmendment>
            </newOrAmendment>
            <dateOfFirstSale>
                <yetToOccur>true</yetToOccur>
            </dateOfFirstSale>
        </typeOfFiling>
        <durationOfOffering>
            <moreThanOneYear>true</moreThanOneYear>
        </durationOfOffering>
        <typesOfSecuritiesOffered>
            <isPooledInvestmentFundType>true</isPooledInvestmentFundType>
            <isOtherType>true</isOtherType>
            <descriptionOfOtherType>Limited Partnership Interests</descriptionOfOtherType>
        </typesOfSecuritiesOffered>
        <businessCombinationTransaction>
            <isBusinessCombinationTransaction>false</isBusinessCombinationTransaction>
            <clarificationOfResponse></clarificationOfResponse>
        </businessCombinationTransaction>
        <minimumInvestmentAccepted>5000000</minimumInvestmentAccepted>
        <salesCompensationList></salesCompensationList>
        <offeringSalesAmounts>
            <totalOfferingAmount>Indefinite</totalOfferingAmount>
            <totalAmountSold>0</totalAmountSold>
            <totalRemaining>Indefinite</totalRemaining>
            <clarificationOfResponse></clarificationOfResponse>
        </offeringSalesAmounts>
        <investors>
            <hasNonAccreditedInvestors>false</hasNonAccreditedInvestors>
            <totalNumberAlreadyInvested>0</totalNumberAlreadyInvested>
        </investors>
        <salesCommissionsFindersFees>
            <salesCommissions>
                <dollarAmount>0</dollarAmount>
            </salesCommissions>
            <findersFees>
                <dollarAmount>0</dollarAmount>
            </findersFees>
            <clarificationOfResponse></clarificationOfResponse>
        </salesCommissionsFindersFees>
        <useOfProceeds>
            <grossProceedsUsed>
                <dollarAmount>0</dollarAmount>
                <isEstimate>true</isEstimate>
            </grossProceedsUsed>
            <clarificationOfResponse></clarificationOfResponse>
        </useOfProceeds>
        <signatureBlock>
            <authorizedRepresentative>false</authorizedRepresentative>
            <signature>
                <issuerName>Indaba Capital Fund, L.P.</issuerName>
                <signatureName>/s/ Hank Brier</signatureName>
                <nameOfSigner>Hank Brier</nameOfSigner>
                <signatureTitle>Partner and General Counsel of the GP</signatureTitle>
                <signatureDate>2011-03-30</signatureDate>
            </signature>
        </signatureBlock>
    </offeringData>
</edgarSubmission>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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