<?xml version="1.0"?>
<edgarSubmission>

    <schemaVersion>X0201</schemaVersion>

    <submissionType>D/A</submissionType>

    <testOrLive>LIVE</testOrLive>

    <primaryIssuer>
        <cik>0001452029</cik>
        <entityName>Colchis Capital Distressed RMBS Opportunities Fund, LP</entityName>
        <issuerAddress>
            <street1>1 BUSH STREET, 12TH FLOOR</street1>
            <street2></street2>
            <city>SAN</city>
            <stateOrCountry>CA</stateOrCountry>
            <zipCode>94104</zipCode>
        </issuerAddress>
        <issuerPhoneNumber>(415) 354-2843</issuerPhoneNumber>
        <issuerPreviousNameList>
            <value>None</value>
        </issuerPreviousNameList>
        <jurisdictionOfInc>DE</jurisdictionOfInc>
        <entityType>Limited Partnership</entityType>
        <yearOfInc>
            <withinFiveYears>true</withinFiveYears>
            <value>2008</value>
        </yearOfInc>
    </primaryIssuer>

    <relatedPersonsList>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>NA</firstName>
                <middleName></middleName>
                <lastName>Colchis Capital Management, LLC</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>1 Bush Street</street1>
                <street2>12th Floor</street2>
                <city>San Francisco</city>
                <stateOrCountry>CA</stateOrCountry>
                <zipCode>94104</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
                <relationship>Promoter</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>General Partner</relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>NA</firstName>
                <middleName></middleName>
                <lastName>Voyager Capital Group LLC</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>1 Bush Street</street1>
                <street2>12th Floor</street2>
                <city>San Francisco</city>
                <stateOrCountry>CA</stateOrCountry>
                <zipCode>94104</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Promoter</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>Member of Colchis Capital Management, LLC</relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>NA</firstName>
                <middleName></middleName>
                <lastName>Lauderdale Partners LLC</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>1 Bush Street</street1>
                <street2>12th Floor</street2>
                <city>Houston</city>
                <stateOrCountry>TX</stateOrCountry>
                <zipCode>77027</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Promoter</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>Member of Colchis Capital Management, LLC</relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Robert</firstName>
                <middleName>John</middleName>
                <lastName>Conrads</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>1 Bush Street</street1>
                <street2>12th Floor</street2>
                <city>San Francisco</city>
                <stateOrCountry>CA</stateOrCountry>
                <zipCode>94104</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Promoter</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>President of Colchis Capital Management, LLC and managing member of Voyager Capital Group LLC</relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Edward</firstName>
                <middleName>Michael</middleName>
                <lastName>Conrads</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>1 Bush Street</street1>
                <street2>12th Floor</street2>
                <city>San Francisco</city>
                <stateOrCountry>CA</stateOrCountry>
                <zipCode>94104</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Promoter</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>Vice President of Colchis Capital Management, LLC</relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Charles</firstName>
                <middleName>Douglas</middleName>
                <lastName>Bauer</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>4400 Post Oak Parkway</street1>
                <street2></street2>
                <city>Houston</city>
                <stateOrCountry>TX</stateOrCountry>
                <zipCode>77027</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Promoter</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>Managing member of Lauderdale Partners LLC</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.7</item>
        </federalExemptionsExclusions>
        <typeOfFiling>
            <newOrAmendment>
                <isAmendment>true</isAmendment>
                <previousAccessionNumber>0001095449-08-000088</previousAccessionNumber>
            </newOrAmendment>
            <dateOfFirstSale>
                <value>2008-06-12</value>
            </dateOfFirstSale>
        </typeOfFiling>
        <durationOfOffering>
            <moreThanOneYear>true</moreThanOneYear>
        </durationOfOffering>
        <typesOfSecuritiesOffered>
            <isPooledInvestmentFundType>true</isPooledInvestmentFundType>
        </typesOfSecuritiesOffered>
        <businessCombinationTransaction>
            <isBusinessCombinationTransaction>false</isBusinessCombinationTransaction>
            <clarificationOfResponse></clarificationOfResponse>
        </businessCombinationTransaction>
        <minimumInvestmentAccepted>1000000</minimumInvestmentAccepted>
        <salesCompensationList></salesCompensationList>
        <offeringSalesAmounts>
            <totalOfferingAmount>Indefinite</totalOfferingAmount>
            <totalAmountSold>19572909</totalAmountSold>
            <totalRemaining>Indefinite</totalRemaining>
            <clarificationOfResponse></clarificationOfResponse>
        </offeringSalesAmounts>
        <investors>
            <hasNonAccreditedInvestors>false</hasNonAccreditedInvestors>
            <totalNumberAlreadyInvested>35</totalNumberAlreadyInvested>
        </investors>
        <salesCommissionsFindersFees>
            <salesCommissions>
                <dollarAmount>0</dollarAmount>
            </salesCommissions>
            <findersFees>
                <dollarAmount>0</dollarAmount>
            </findersFees>
            <clarificationOfResponse></clarificationOfResponse>
        </salesCommissionsFindersFees>
        <useOfProceeds>
            <grossProceedsUsed>
                <dollarAmount>0</dollarAmount>
            </grossProceedsUsed>
            <clarificationOfResponse></clarificationOfResponse>
        </useOfProceeds>
        <signatureBlock>
            <authorizedRepresentative>false</authorizedRepresentative>
            <signature>
                <issuerName>Colchis Capital Distressed RMBS Opportunities Fund, LP</issuerName>
                <signatureName>Robert J. Conrads</signatureName>
                <nameOfSigner>Robert J. Conrads</nameOfSigner>
                <signatureTitle>CEO of Colchis Capital Management, LLC, its general Partner</signatureTitle>
                <signatureDate>2008-12-02</signatureDate>
            </signature>
        </signatureBlock>
    </offeringData>
</edgarSubmission>
