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Proc-Type: 2001,MIC-CLEAR
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<SEC-DOCUMENT>0001439855-09-000003.txt : 20090727
<SEC-HEADER>0001439855-09-000003.hdr.sgml : 20090727
<ACCEPTANCE-DATETIME>20090727165819
ACCESSION NUMBER:		0001439855-09-000003
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:		20090727
DATE AS OF CHANGE:		20090727
EFFECTIVENESS DATE:		20090727

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			ALPHAGEN OCTANIS FUND LTD
		CENTRAL INDEX KEY:			0001439855
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			E9

	FILING VALUES:
		FORM TYPE:		D/A
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	021-120183
		FILM NUMBER:		09965074

	BUSINESS ADDRESS:	
		STREET 1:		P.O. BOX 513 GT
		STREET 2:		STRATHVALE HOUSE, NORTH CHURCH ST
		CITY:			GEORGE TOWN
		STATE:			XX
		ZIP:			CAYMAN
		BUSINESS PHONE:		345-914-7552

	MAIL ADDRESS:	
		STREET 1:		P.O. BOX 513 GT
		STREET 2:		STRATHVALE HOUSE, NORTH CHURCH ST
		CITY:			GEORGE TOWN
		STATE:			XX
		ZIP:			CAYMAN
</SEC-HEADER>
<DOCUMENT>
<TYPE>D/A
<SEQUENCE>1
<FILENAME>primary_doc.xml
<TEXT>
<XML>
<?xml version="1.0"?>
<edgarSubmission>

    <schemaVersion>X0502</schemaVersion>

    <submissionType>D/A</submissionType>

    <testOrLive>LIVE</testOrLive>

    <primaryIssuer>
        <cik>0001439855</cik>
        <entityName>ALPHAGEN OCTANIS FUND LTD</entityName>
        <issuerAddress>
            <street1>Strathvale House</street1>
            <street2>NORTH CHURCH ST</street2>
            <city>GEORGE TOWN</city>
            <stateOrCountry>E9</stateOrCountry>
            <zipCode>Cayman</zipCode>
        </issuerAddress>
        <issuerPhoneNumber>345-914-7552</issuerPhoneNumber>
        <issuerPreviousNameList>
            <value>None</value>
        </issuerPreviousNameList>
        <jurisdictionOfInc>CAYMAN ISLANDS</jurisdictionOfInc>
        <entityType>Other</entityType>
        <entityTypeOtherDesc>Cayman Islands Exempted Company</entityTypeOtherDesc>
        <yearOfInc>
            <withinFiveYears>true</withinFiveYears>
            <value>2005</value>
        </yearOfInc>
    </primaryIssuer>

    <relatedPersonsList>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Robert</firstName>
                <middleName></middleName>
                <lastName>Bovert</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>1115 Vullierens</street1>
                <street2></street2>
                <city>Vaud</city>
                <stateOrCountry>V8</stateOrCountry>
                <zipCode>00000</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification></relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Jeffrey</firstName>
                <middleName></middleName>
                <lastName>Meyer</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>8 Fenchurch Place</street1>
                <street2></street2>
                <city>London</city>
                <stateOrCountry>X0</stateOrCountry>
                <zipCode>EC3M 4PB</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification></relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Neil</firstName>
                <middleName></middleName>
                <lastName>Honebon</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>Ely House,</street1>
                <street2>37 Dover Street</street2>
                <city>London</city>
                <stateOrCountry>X0</stateOrCountry>
                <zipCode>WIS 4NJ</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification></relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Hugh</firstName>
                <middleName></middleName>
                <lastName>Ward</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>Sunset Lodge</street1>
                <street2>La Rue de Haut</street2>
                <city>St. Brelade</city>
                <stateOrCountry>XX</stateOrCountry>
                <zipCode>Jersey</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification></relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Kenneth</firstName>
                <middleName></middleName>
                <lastName>Lubbock</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>535 West 110th Street</street1>
                <street2></street2>
                <city>New York</city>
                <stateOrCountry>NY</stateOrCountry>
                <zipCode>10025</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.1</item>
        </federalExemptionsExclusions>
        <typeOfFiling>
            <newOrAmendment>
                <isAmendment>true</isAmendment>
                <previousAccessionNumber>9999999997-08-031793</previousAccessionNumber>
            </newOrAmendment>
            <dateOfFirstSale>
                <value>2005-03-01</value>
            </dateOfFirstSale>
        </typeOfFiling>
        <durationOfOffering>
            <moreThanOneYear>true</moreThanOneYear>
        </durationOfOffering>
        <typesOfSecuritiesOffered>
            <isEquityType>true</isEquityType>
            <isPooledInvestmentFundType>true</isPooledInvestmentFundType>
        </typesOfSecuritiesOffered>
        <businessCombinationTransaction>
            <isBusinessCombinationTransaction>false</isBusinessCombinationTransaction>
            <clarificationOfResponse></clarificationOfResponse>
        </businessCombinationTransaction>
        <minimumInvestmentAccepted>100000</minimumInvestmentAccepted>
        <salesCompensationList>
            <recipient>
                <recipientName>John A. Early</recipientName>
                <recipientCRDNumber>2726671</recipientCRDNumber>
                <associatedBDName>Gartmore Dirtribution Services, Inc.</associatedBDName>
                <associatedBDCRDNumber>143032</associatedBDCRDNumber>
                <recipientAddress>
                    <street1>1 International Place</street1>
                    <street2>16th Floor</street2>
                    <city>Boston</city>
                    <stateOrCountry>MA</stateOrCountry>
                    <zipCode>02110</zipCode>
                </recipientAddress>
                <statesOfSolicitationList>
                    <state>AL</state>
                    <state>AK</state>
                    <state>AZ</state>
                    <state>AR</state>
                    <state>CA</state>
                    <state>CO</state>
                    <state>CT</state>
                    <state>DE</state>
                    <state>DC</state>
                    <state>FL</state>
                    <state>GA</state>
                    <state>HI</state>
                    <state>ID</state>
                    <state>IL</state>
                    <state>IN</state>
                    <state>IA</state>
                    <state>KS</state>
                    <state>KY</state>
                    <state>LA</state>
                    <state>ME</state>
                    <state>MD</state>
                    <state>MA</state>
                    <state>MI</state>
                    <state>MN</state>
                    <state>MS</state>
                    <state>MO</state>
                    <state>MT</state>
                    <state>NE</state>
                    <state>NV</state>
                    <state>NH</state>
                    <state>NJ</state>
                    <state>NM</state>
                    <state>NY</state>
                    <state>NC</state>
                    <state>ND</state>
                    <state>OH</state>
                    <state>OK</state>
                    <state>OR</state>
                    <state>PA</state>
                    <state>RI</state>
                    <state>SC</state>
                    <state>SD</state>
                    <state>TN</state>
                    <state>TX</state>
                    <state>UT</state>
                    <state>VT</state>
                    <state>VA</state>
                    <state>WA</state>
                    <state>WV</state>
                    <state>WI</state>
                    <state>WY</state>
                </statesOfSolicitationList>
            </recipient>
            <recipient>
                <recipientName>Martin J. Phipps</recipientName>
                <recipientCRDNumber>5267004</recipientCRDNumber>
                <associatedBDName>Gartmore Distribution Services, Inc.</associatedBDName>
                <associatedBDCRDNumber>143032</associatedBDCRDNumber>
                <recipientAddress>
                    <street1>8 Fenchurch Place</street1>
                    <street2></street2>
                    <city>London</city>
                    <stateOrCountry>X0</stateOrCountry>
                    <zipCode>EC3M 4PB</zipCode>
                </recipientAddress>
                <statesOfSolicitationList>
                    <state>AL</state>
                    <state>AK</state>
                    <state>AZ</state>
                    <state>AR</state>
                    <state>CA</state>
                    <state>CO</state>
                    <state>CT</state>
                    <state>DE</state>
                    <state>DC</state>
                    <state>FL</state>
                    <state>GA</state>
                    <state>HI</state>
                    <state>ID</state>
                    <state>IL</state>
                    <state>IN</state>
                    <state>IA</state>
                    <state>KS</state>
                    <state>KY</state>
                    <state>LA</state>
                    <state>ME</state>
                    <state>MD</state>
                    <state>MA</state>
                    <state>MI</state>
                    <state>MN</state>
                    <state>MS</state>
                    <state>MO</state>
                    <state>MT</state>
                    <state>NE</state>
                    <state>NV</state>
                    <state>NH</state>
                    <state>NJ</state>
                    <state>NM</state>
                    <state>NY</state>
                    <state>NC</state>
                    <state>ND</state>
                    <state>OH</state>
                    <state>OK</state>
                    <state>OR</state>
                    <state>PA</state>
                    <state>RI</state>
                    <state>SC</state>
                    <state>SD</state>
                    <state>TN</state>
                    <state>TX</state>
                    <state>UT</state>
                    <state>VT</state>
                    <state>VA</state>
                    <state>WA</state>
                    <state>WV</state>
                    <state>WI</state>
                    <state>WY</state>
                </statesOfSolicitationList>
            </recipient>
            <recipient>
                <recipientName>Corinne T. Lambert</recipientName>
                <recipientCRDNumber>2348439</recipientCRDNumber>
                <associatedBDName>Gartmore Distribution Services, Inc.</associatedBDName>
                <associatedBDCRDNumber>143032</associatedBDCRDNumber>
                <recipientAddress>
                    <street1>8 Fenchurch Place</street1>
                    <street2></street2>
                    <city>London</city>
                    <stateOrCountry>X0</stateOrCountry>
                    <zipCode>EC3M 4PB</zipCode>
                </recipientAddress>
                <statesOfSolicitationList>
                    <state>AK</state>
                    <state>AZ</state>
                    <state>AR</state>
                    <state>CA</state>
                    <state>CO</state>
                    <state>CT</state>
                    <state>DE</state>
                    <state>DC</state>
                    <state>FL</state>
                    <state>GA</state>
                    <state>HI</state>
                    <state>ID</state>
                    <state>IL</state>
                    <state>IA</state>
                    <state>KS</state>
                    <state>KY</state>
                    <state>LA</state>
                    <state>MD</state>
                    <state>MA</state>
                    <state>MI</state>
                    <state>MN</state>
                    <state>MS</state>
                    <state>MO</state>
                    <state>MT</state>
                    <state>NE</state>
                    <state>NV</state>
                    <state>NH</state>
                    <state>NJ</state>
                    <state>NM</state>
                    <state>NY</state>
                    <state>NC</state>
                    <state>ND</state>
                    <state>OH</state>
                    <state>OK</state>
                    <state>OR</state>
                    <state>PA</state>
                    <state>RI</state>
                    <state>SC</state>
                    <state>SD</state>
                    <state>TX</state>
                    <state>UT</state>
                    <state>VT</state>
                    <state>VA</state>
                    <state>WA</state>
                    <state>WV</state>
                    <state>WI</state>
                    <state>WY</state>
                </statesOfSolicitationList>
            </recipient>
            <recipient>
                <recipientName>James P. MacMillan</recipientName>
                <recipientCRDNumber>1609239</recipientCRDNumber>
                <associatedBDName>Gartmore Distribution Services, Inc.</associatedBDName>
                <associatedBDCRDNumber>143032</associatedBDCRDNumber>
                <recipientAddress>
                    <street1>1 International Place</street1>
                    <street2>16th floor</street2>
                    <city>Boston</city>
                    <stateOrCountry>MA</stateOrCountry>
                    <zipCode>02110</zipCode>
                </recipientAddress>
                <statesOfSolicitationList>
                    <state>AL</state>
                    <state>AK</state>
                    <state>AZ</state>
                    <state>AR</state>
                    <state>CA</state>
                    <state>CO</state>
                    <state>CT</state>
                    <state>DE</state>
                    <state>DC</state>
                    <state>FL</state>
                    <state>GA</state>
                    <state>HI</state>
                    <state>ID</state>
                    <state>IL</state>
                    <state>IN</state>
                    <state>IA</state>
                    <state>KS</state>
                    <state>KY</state>
                    <state>LA</state>
                    <state>ME</state>
                    <state>MD</state>
                    <state>MA</state>
                    <state>MI</state>
                    <state>MN</state>
                    <state>MS</state>
                    <state>MO</state>
                    <state>MT</state>
                    <state>NE</state>
                    <state>NV</state>
                    <state>NH</state>
                    <state>NJ</state>
                    <state>NM</state>
                    <state>NY</state>
                    <state>NC</state>
                    <state>ND</state>
                    <state>OH</state>
                    <state>OK</state>
                    <state>OR</state>
                    <state>PA</state>
                    <state>RI</state>
                    <state>SC</state>
                    <state>SD</state>
                    <state>TN</state>
                    <state>TX</state>
                    <state>UT</state>
                    <state>VT</state>
                    <state>VA</state>
                    <state>WA</state>
                    <state>WV</state>
                    <state>WI</state>
                    <state>WY</state>
                </statesOfSolicitationList>
            </recipient>
            <recipient>
                <recipientName>Nationwide Fund Distributors LLC</recipientName>
                <recipientCRDNumber>25910</recipientCRDNumber>
                <associatedBDName>Nationwide Fund Distributors LLC</associatedBDName>
                <associatedBDCRDNumber>25910</associatedBDCRDNumber>
                <recipientAddress>
                    <street1>1000 Continental Drive</street1>
                    <street2>Suite 400</street2>
                    <city>King of Prussia</city>
                    <stateOrCountry>PA</stateOrCountry>
                    <zipCode>19406</zipCode>
                </recipientAddress>
                <statesOfSolicitationList>
                    <state>AL</state>
                    <state>AK</state>
                    <state>AZ</state>
                    <state>AR</state>
                    <state>CA</state>
                    <state>CO</state>
                    <state>CT</state>
                    <state>DE</state>
                    <state>DC</state>
                    <state>FL</state>
                    <state>GA</state>
                    <state>HI</state>
                    <state>ID</state>
                    <state>IL</state>
                    <state>IN</state>
                    <state>IA</state>
                    <state>KS</state>
                    <state>KY</state>
                    <state>LA</state>
                    <state>ME</state>
                    <state>MD</state>
                    <state>MA</state>
                    <state>MI</state>
                    <state>MN</state>
                    <state>MS</state>
                    <state>MO</state>
                    <state>MT</state>
                    <state>NE</state>
                    <state>NV</state>
                    <state>NH</state>
                    <state>NJ</state>
                    <state>NM</state>
                    <state>NY</state>
                    <state>NC</state>
                    <state>ND</state>
                    <state>OH</state>
                    <state>OK</state>
                    <state>OR</state>
                    <state>PA</state>
                    <state>PR</state>
                    <state>RI</state>
                    <state>SC</state>
                    <state>SD</state>
                    <state>TN</state>
                    <state>TX</state>
                    <state>UT</state>
                    <state>VT</state>
                    <state>VA</state>
                    <state>WA</state>
                    <state>WV</state>
                    <state>WI</state>
                    <state>WY</state>
                </statesOfSolicitationList>
            </recipient>
        </salesCompensationList>
        <offeringSalesAmounts>
            <totalOfferingAmount>Indefinite</totalOfferingAmount>
            <totalAmountSold>4865682</totalAmountSold>
            <totalRemaining>Indefinite</totalRemaining>
            <clarificationOfResponse></clarificationOfResponse>
        </offeringSalesAmounts>
        <investors>
            <hasNonAccreditedInvestors>false</hasNonAccreditedInvestors>
            <totalNumberAlreadyInvested>3</totalNumberAlreadyInvested>
        </investors>
        <salesCommissionsFindersFees>
            <salesCommissions>
                <dollarAmount>300000</dollarAmount>
                <isEstimate>true</isEstimate>
            </salesCommissions>
            <findersFees>
                <dollarAmount>0</dollarAmount>
            </findersFees>
            <clarificationOfResponse>The Issuer's Investment Manager compensates the placement agents, which may include a portion of the Investment Manager's management fee while the investor remains invested.  This estimate is based on the expected fees over the life of the offering.</clarificationOfResponse>
        </salesCommissionsFindersFees>
        <useOfProceeds>
            <grossProceedsUsed>
                <dollarAmount>0</dollarAmount>
            </grossProceedsUsed>
            <clarificationOfResponse></clarificationOfResponse>
        </useOfProceeds>
        <signatureBlock>
            <authorizedRepresentative>false</authorizedRepresentative>
            <signature>
                <issuerName>ALPHAGEN OCTANIS FUND LTD</issuerName>
                <signatureName>Jeffrey Meyer</signatureName>
                <nameOfSigner>Jeffrey Meyer</nameOfSigner>
                <signatureTitle>Director</signatureTitle>
                <signatureDate>2009-07-27</signatureDate>
            </signature>
        </signatureBlock>
    </offeringData>
</edgarSubmission>
</XML>
</TEXT>
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</SEC-DOCUMENT>
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