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

    <schemaVersion>X0708</schemaVersion>

    <submissionType>D</submissionType>

    <testOrLive>LIVE</testOrLive>

    <primaryIssuer>
        <cik>0001559611</cik>
        <entityName>VERDE ALPHA FUND, LTD.</entityName>
        <issuerAddress>
            <street1>AV. BRIG. FARIA LIMA, 3600</street1>
            <street2>11 ANDAR - CJ 111 - ITAIM BIBI</street2>
            <city>SAO PAULO</city>
            <stateOrCountry>D5</stateOrCountry>
            <stateOrCountryDescription>BRAZIL</stateOrCountryDescription>
            <zipCode>04538-132</zipCode>
        </issuerAddress>
        <issuerPhoneNumber>55 11 49358500</issuerPhoneNumber>
        <jurisdictionOfInc>CAYMAN ISLANDS</jurisdictionOfInc>
        <edgarPreviousNameList>
            <previousName>Alpha HG Fund, Ltd.</previousName>
        </edgarPreviousNameList>
        <entityType>Other</entityType>
        <entityTypeOtherDesc>Cayman Islands Exempted Company</entityTypeOtherDesc>
        <yearOfInc>
            <overFiveYears>true</overFiveYears>
        </yearOfInc>
    </primaryIssuer>

    <relatedPersonsList>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Luis</firstName>
                <lastName>Stuhlberger</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>Avenida Brigadeiro Faria Lima, 3600</street1>
                <street2>11 andar / conjunto 111</street2>
                <city>Sao Paulo</city>
                <stateOrCountry>D5</stateOrCountry>
                <stateOrCountryDescription>BRAZIL</stateOrCountryDescription>
                <zipCode>04538132</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>Director of the Fund and the Investment Manager.</relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>N/A</firstName>
                <lastName>Verde Servicos Internacionais S.A.</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>Avenida Brigadeiro Faria Lima, 3600</street1>
                <street2>11 andar / conjunto 111</street2>
                <city>Sao Paulo</city>
                <stateOrCountry>D5</stateOrCountry>
                <stateOrCountryDescription>BRAZIL</stateOrCountryDescription>
                <zipCode>04538132</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Promoter</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>Investment Manager.</relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Eleonora</firstName>
                <lastName>Colussi Cypel de Luca</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>Avenida Brigadeiro Faria Lima, 3600</street1>
                <street2>11 andar / conjunto 111</street2>
                <city>Sao Paulo</city>
                <stateOrCountry>D5</stateOrCountry>
                <stateOrCountryDescription>BRAZIL</stateOrCountryDescription>
                <zipCode>04538132</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>Director of Investment Manager.</relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Pedro</firstName>
                <lastName>Fukui</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>Avenida Brigadeiro Faria Lima, 3600</street1>
                <street2>11 andar / conjunto 111</street2>
                <city>Sao Paulo</city>
                <stateOrCountry>D5</stateOrCountry>
                <stateOrCountryDescription>BRAZIL</stateOrCountryDescription>
                <zipCode>04538132</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>Director of Investment Manager.</relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Luiz</firstName>
                <middleName>Paulo</middleName>
                <lastName>Rodrigues de Freitas Parreiras</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>Avenida Brigadeiro Faria Lima, 3600</street1>
                <street2>11 andar / conjunto 111</street2>
                <city>Sao Paulo</city>
                <stateOrCountry>D5</stateOrCountry>
                <stateOrCountryDescription>BRAZIL</stateOrCountryDescription>
                <zipCode>04538132</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>Director of the Fund.</relationshipClarification>
        </relatedPersonInfo>
    </relatedPersonsList>

    <offeringData>
        <industryGroup>
            <industryGroupType>Pooled Investment Fund</industryGroupType>
            <investmentFundInfo>
                <investmentFundType>Hedge Fund</investmentFundType>
                <is40Act>false</is40Act>
            </investmentFundInfo>
        </industryGroup>
        <issuerSize>
            <aggregateNetAssetValueRange>Over $100,000,000</aggregateNetAssetValueRange>
        </issuerSize>
        <federalExemptionsExclusions>
            <item>06b</item>
            <item>3C</item>
            <item>3C.7</item>
        </federalExemptionsExclusions>
        <typeOfFiling>
            <newOrAmendment>
                <isAmendment>false</isAmendment>
            </newOrAmendment>
            <dateOfFirstSale>
                <value>2012-09-03</value>
            </dateOfFirstSale>
        </typeOfFiling>
        <durationOfOffering>
            <moreThanOneYear>true</moreThanOneYear>
        </durationOfOffering>
        <typesOfSecuritiesOffered>
            <isPooledInvestmentFundType>true</isPooledInvestmentFundType>
        </typesOfSecuritiesOffered>
        <businessCombinationTransaction>
            <isBusinessCombinationTransaction>false</isBusinessCombinationTransaction>
            <clarificationOfResponse></clarificationOfResponse>
        </businessCombinationTransaction>
        <minimumInvestmentAccepted>100000</minimumInvestmentAccepted>
        <salesCompensationList>
            <recipient>
                <recipientName>Banque J. Safra Sarasin (Luxembourg) SA</recipientName>
                <recipientCRDNumber>None</recipientCRDNumber>
                <associatedBDName>None</associatedBDName>
                <associatedBDCRDNumber>None</associatedBDCRDNumber>
                <recipientAddress>
                    <street1>10A Boulevard Joseph II, L-1840</street1>
                    <city>Luxembourg</city>
                    <stateOrCountry>N4</stateOrCountry>
                    <stateOrCountryDescription>LUXEMBOURG</stateOrCountryDescription>
                    <zipCode>00000</zipCode>
                </recipientAddress>
                <statesOfSolicitationList></statesOfSolicitationList>
                <foreignSolicitation>true</foreignSolicitation>
            </recipient>
        </salesCompensationList>
        <offeringSalesAmounts>
            <totalOfferingAmount>Indefinite</totalOfferingAmount>
            <totalAmountSold>3439789254</totalAmountSold>
            <totalRemaining>Indefinite</totalRemaining>
            <clarificationOfResponse></clarificationOfResponse>
        </offeringSalesAmounts>
        <investors>
            <hasNonAccreditedInvestors>false</hasNonAccreditedInvestors>
            <totalNumberAlreadyInvested>9</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>VERDE ALPHA FUND, LTD.</issuerName>
                <signatureName>Pedro Fukui</signatureName>
                <nameOfSigner>PEDRO FUKUI</nameOfSigner>
                <signatureTitle>Chief Compliance Officer</signatureTitle>
                <signatureDate>2022-06-27</signatureDate>
            </signature>
        </signatureBlock>
    </offeringData>
</edgarSubmission>
