-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 LAJJkaH2Ajc4sCUZuxeg3w9ScxApLvbey9blsn3C7AJggVRi61RNW3mwr4edMI0v
 eq0iRDCxJh5htHgNNcQmwQ==

<SEC-DOCUMENT>0001425431-10-000001.txt : 20100216
<SEC-HEADER>0001425431-10-000001.hdr.sgml : 20100215
<ACCEPTANCE-DATETIME>20100216163034
ACCESSION NUMBER:		0001425431-10-000001
CONFORMED SUBMISSION TYPE:	D/A
PUBLIC DOCUMENT COUNT:		1
ITEM INFORMATION:		Rule 506
FILED AS OF DATE:		20100216
DATE AS OF CHANGE:		20100216
EFFECTIVENESS DATE:		20100216

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			PARAGON ENHANCED EQUITY FUND LP
		CENTRAL INDEX KEY:			0001425431
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			WA

	FILING VALUES:
		FORM TYPE:		D/A
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	021-114101
		FILM NUMBER:		10608451

	BUSINESS ADDRESS:	
		STREET 1:		1420 FIFTH AVENUE
		STREET 2:		SUITE 3020
		CITY:			SEATTLE
		STATE:			WA
		ZIP:			98101-2333
		BUSINESS PHONE:		206-583-8300

	MAIL ADDRESS:	
		STREET 1:		1420 FIFTH AVENUE
		STREET 2:		SUITE 3020
		CITY:			SEATTLE
		STATE:			WA
		ZIP:			98101-2333
</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>0001425431</cik>
        <entityName>PARAGON ENHANCED EQUITY FUND LP</entityName>
        <issuerAddress>
            <street1>1420 FIFTH AVENUE</street1>
            <street2>SUITE 3020</street2>
            <city>SEATTLE</city>
            <stateOrCountry>WA</stateOrCountry>
            <zipCode>98101-2333</zipCode>
        </issuerAddress>
        <issuerPhoneNumber>206-583-8300</issuerPhoneNumber>
        <jurisdictionOfInc>WASHINGTON</jurisdictionOfInc>
        <issuerPreviousNameList>
            <value>None</value>
        </issuerPreviousNameList>
        <edgarPreviousNameList>
            <value>None</value>
        </edgarPreviousNameList>
        <entityType>Limited Partnership</entityType>
        <yearOfInc>
            <withinFiveYears>true</withinFiveYears>
            <value>2007</value>
        </yearOfInc>
    </primaryIssuer>

    <relatedPersonsList>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Shari</firstName>
                <middleName>Jene</middleName>
                <lastName>Burns</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>1420 Fifth Avenue</street1>
                <street2>Suite 3020</street2>
                <city>Seattle</city>
                <stateOrCountry>WA</stateOrCountry>
                <zipCode>98101</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>Shari Burns is the Managing Member of Paragon Portfolio Strategies, L.L.C. which is the General Partner of the Paragon Enhanced Equity Fund L.P.</relationshipClarification>
        </relatedPersonInfo>
    </relatedPersonsList>

    <offeringData>
        <industryGroup>
            <industryGroupType>Pooled Investment Fund</industryGroupType>
            <investmentFundInfo>
                <investmentFundType>Hedge Fund</investmentFundType>
                <is40Act>false</is40Act>
            </investmentFundInfo>
        </industryGroup>
        <issuerSize>
            <aggregateNetAssetValueRange>$5,000,001 - $25,000,000</aggregateNetAssetValueRange>
        </issuerSize>
        <federalExemptionsExclusions>
            <item>06</item>
        </federalExemptionsExclusions>
        <typeOfFiling>
            <newOrAmendment>
                <isAmendment>true</isAmendment>
                <previousAccessionNumber>0001425431-09-000002</previousAccessionNumber>
            </newOrAmendment>
            <dateOfFirstSale>
                <value>2008-01-10</value>
            </dateOfFirstSale>
        </typeOfFiling>
        <durationOfOffering>
            <moreThanOneYear>true</moreThanOneYear>
        </durationOfOffering>
        <typesOfSecuritiesOffered>
            <isPooledInvestmentFundType>true</isPooledInvestmentFundType>
        </typesOfSecuritiesOffered>
        <businessCombinationTransaction>
            <isBusinessCombinationTransaction>false</isBusinessCombinationTransaction>
            <clarificationOfResponse></clarificationOfResponse>
        </businessCombinationTransaction>
        <minimumInvestmentAccepted>500000</minimumInvestmentAccepted>
        <salesCompensationList>
            <recipient>
                <recipientName>Jonathan A Barwick</recipientName>
                <recipientCRDNumber>1347131</recipientCRDNumber>
                <associatedBDName>KMS Financial Services, Inc.</associatedBDName>
                <associatedBDCRDNumber>3866</associatedBDCRDNumber>
                <recipientAddress>
                    <street1>2001 Sixth Avenue</street1>
                    <street2>Suite 2801</street2>
                    <city>Seattle</city>
                    <stateOrCountry>WA</stateOrCountry>
                    <zipCode>98121</zipCode>
                </recipientAddress>
                <statesOfSolicitationList>
                    <state>WA</state>
                </statesOfSolicitationList>
            </recipient>
        </salesCompensationList>
        <offeringSalesAmounts>
            <totalOfferingAmount>100000000</totalOfferingAmount>
            <totalAmountSold>13347000</totalAmountSold>
            <totalRemaining>86653000</totalRemaining>
            <clarificationOfResponse>Amounts are as of 12/31/2009
In 2009 1 Client redeemed their partnership.  Their original investment was $250,000.  I reduced the original amount sold by this withdrawal.</clarificationOfResponse>
        </offeringSalesAmounts>
        <investors>
            <hasNonAccreditedInvestors>false</hasNonAccreditedInvestors>
            <totalNumberAlreadyInvested>29</totalNumberAlreadyInvested>
        </investors>
        <salesCommissionsFindersFees>
            <salesCommissions>
                <dollarAmount>0</dollarAmount>
            </salesCommissions>
            <findersFees>
                <dollarAmount>10594</dollarAmount>
                <isEstimate>true</isEstimate>
            </findersFees>
            <clarificationOfResponse>Finders Fee paid to KMS Financial for J A Barwick.</clarificationOfResponse>
        </salesCommissionsFindersFees>
        <useOfProceeds>
            <grossProceedsUsed>
                <dollarAmount>0</dollarAmount>
            </grossProceedsUsed>
            <clarificationOfResponse></clarificationOfResponse>
        </useOfProceeds>
        <signatureBlock>
            <authorizedRepresentative>false</authorizedRepresentative>
            <signature>
                <issuerName>PARAGON ENHANCED EQUITY FUND LP</issuerName>
                <signatureName>Shari J Burns</signatureName>
                <nameOfSigner>Shari J Burns</nameOfSigner>
                <signatureTitle>Managing Member of General Partner</signatureTitle>
                <signatureDate>2010-02-16</signatureDate>
            </signature>
        </signatureBlock>
    </offeringData>
</edgarSubmission>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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