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

    <schemaVersion>X0708</schemaVersion>

    <submissionType>D/A</submissionType>

    <testOrLive>LIVE</testOrLive>

    <primaryIssuer>
        <cik>0001547097</cik>
        <entityName>Portolan Equity Fund, LP</entityName>
        <issuerAddress>
            <street1>Two International Place, Suite 2630</street1>
            <city>Boston</city>
            <stateOrCountry>MA</stateOrCountry>
            <stateOrCountryDescription>MASSACHUSETTS</stateOrCountryDescription>
            <zipCode>02110</zipCode>
        </issuerAddress>
        <issuerPhoneNumber>617-753-6400</issuerPhoneNumber>
        <jurisdictionOfInc>DELAWARE</jurisdictionOfInc>
        <edgarPreviousNameList>
            <previousName>Portolan Pilot Long Only Fund, LP</previousName>
        </edgarPreviousNameList>
        <entityType>Limited Partnership</entityType>
        <yearOfInc>
            <overFiveYears>true</overFiveYears>
        </yearOfInc>
    </primaryIssuer>

    <relatedPersonsList>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>n/a</firstName>
                <lastName>Portolan Investments, LLC</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>12535 Seminole Beach Rd</street1>
                <city>North Palm Beach</city>
                <stateOrCountry>FL</stateOrCountry>
                <stateOrCountryDescription>FLORIDA</stateOrCountryDescription>
                <zipCode>33408</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>General Partner of the Issuer</relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>n/a</firstName>
                <lastName>Portolan Capital Management, LLC</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>Two International Place, Suite 2630</street1>
                <city>Boston</city>
                <stateOrCountry>MA</stateOrCountry>
                <stateOrCountryDescription>MASSACHUSETTS</stateOrCountryDescription>
                <zipCode>02110</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>Investment Manager of the Issuer</relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>George</firstName>
                <lastName>McCabe</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>Portolan Investments, LLC</street1>
                <street2>12535 Seminole Beach Rd</street2>
                <city>North Palm Beach</city>
                <stateOrCountry>FL</stateOrCountry>
                <stateOrCountryDescription>FLORIDA</stateOrCountryDescription>
                <zipCode>33408</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification></relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Christopher</firstName>
                <lastName>Nardone</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>Portolan Capital Management, LLC</street1>
                <street2>Two International Place, Suite 2630</street2>
                <city>Boston</city>
                <stateOrCountry>MA</stateOrCountry>
                <stateOrCountryDescription>MASSACHUSETTS</stateOrCountryDescription>
                <zipCode>02110</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification></relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Betsy</firstName>
                <lastName>Flaherty</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>Portolan Capital Management, LLC</street1>
                <street2>Two International Place, Suite 2630</street2>
                <city>Boston</city>
                <stateOrCountry>MA</stateOrCountry>
                <stateOrCountryDescription>MASSACHUSETTS</stateOrCountryDescription>
                <zipCode>02110</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</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>06b</item>
            <item>3C</item>
            <item>3C.7</item>
        </federalExemptionsExclusions>
        <typeOfFiling>
            <newOrAmendment>
                <isAmendment>true</isAmendment>
                <previousAccessionNumber>0001547097-25-000001</previousAccessionNumber>
            </newOrAmendment>
            <dateOfFirstSale>
                <value>2012-04-01</value>
            </dateOfFirstSale>
        </typeOfFiling>
        <durationOfOffering>
            <moreThanOneYear>true</moreThanOneYear>
        </durationOfOffering>
        <typesOfSecuritiesOffered>
            <isPooledInvestmentFundType>true</isPooledInvestmentFundType>
        </typesOfSecuritiesOffered>
        <businessCombinationTransaction>
            <isBusinessCombinationTransaction>false</isBusinessCombinationTransaction>
            <clarificationOfResponse></clarificationOfResponse>
        </businessCombinationTransaction>
        <minimumInvestmentAccepted>286000</minimumInvestmentAccepted>
        <salesCompensationList>
            <recipient>
                <recipientName>CrestWave Capital Partners LLC</recipientName>
                <recipientCRDNumber>332709</recipientCRDNumber>
                <associatedBDName>None</associatedBDName>
                <associatedBDCRDNumber>None</associatedBDCRDNumber>
                <recipientAddress>
                    <street1>375 South County Road</street1>
                    <street2>Suite 210</street2>
                    <city>Palm Beach</city>
                    <stateOrCountry>FL</stateOrCountry>
                    <stateOrCountryDescription>FLORIDA</stateOrCountryDescription>
                    <zipCode>33480</zipCode>
                </recipientAddress>
                <statesOfSolicitationList>
                    <state>MN</state>
                    <description>MINNESOTA</description>
                    <state>IL</state>
                    <description>ILLINOIS</description>
                    <state>MA</state>
                    <description>MASSACHUSETTS</description>
                    <state>TX</state>
                    <description>TEXAS</description>
                    <state>FL</state>
                    <description>FLORIDA</description>
                    <state>OH</state>
                    <description>OHIO</description>
                    <state>NY</state>
                    <description>NEW YORK</description>
                    <state>NJ</state>
                    <description>NEW JERSEY</description>
                    <state>CA</state>
                    <description>CALIFORNIA</description>
                </statesOfSolicitationList>
                <foreignSolicitation>false</foreignSolicitation>
            </recipient>
        </salesCompensationList>
        <offeringSalesAmounts>
            <totalOfferingAmount>Indefinite</totalOfferingAmount>
            <totalAmountSold>450265861</totalAmountSold>
            <totalRemaining>Indefinite</totalRemaining>
            <clarificationOfResponse></clarificationOfResponse>
        </offeringSalesAmounts>
        <investors>
            <hasNonAccreditedInvestors>false</hasNonAccreditedInvestors>
            <totalNumberAlreadyInvested>100</totalNumberAlreadyInvested>
        </investors>
        <salesCommissionsFindersFees>
            <salesCommissions>
                <dollarAmount>18750</dollarAmount>
                <isEstimate>true</isEstimate>
            </salesCommissions>
            <findersFees>
                <dollarAmount>0</dollarAmount>
            </findersFees>
            <clarificationOfResponse></clarificationOfResponse>
        </salesCommissionsFindersFees>
        <useOfProceeds>
            <grossProceedsUsed>
                <dollarAmount>0</dollarAmount>
            </grossProceedsUsed>
            <clarificationOfResponse></clarificationOfResponse>
        </useOfProceeds>
        <signatureBlock>
            <authorizedRepresentative>false</authorizedRepresentative>
            <signature>
                <issuerName>Portolan Equity Fund, LP</issuerName>
                <signatureName>Betsy Flaherty</signatureName>
                <nameOfSigner>Betsy Flaherty</nameOfSigner>
                <signatureTitle>Chief Compliance Officer of the Investment Manager of Issuer</signatureTitle>
                <signatureDate>2026-04-06</signatureDate>
            </signature>
        </signatureBlock>
    </offeringData>
</edgarSubmission>
