<?xml version="1.0"?>
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    <schemaVersion>X0708</schemaVersion>

    <submissionType>D/A</submissionType>

    <testOrLive>LIVE</testOrLive>

    <primaryIssuer>
        <cik>0001848110</cik>
        <entityName>Polymer Asia (Cayman) Fund Ltd.</entityName>
        <issuerAddress>
            <street1>C/O INTERNATIONAL CORPORATION SVCS. LTD.</street1>
            <street2>2ND FL, HARBOUR PL, 103 SOUTH CHURCH ST</street2>
            <city>GEORGE TOWN, GRAND CAYMAN</city>
            <stateOrCountry>E9</stateOrCountry>
            <stateOrCountryDescription>CAYMAN ISLANDS</stateOrCountryDescription>
            <zipCode>KY1-1106</zipCode>
        </issuerAddress>
        <issuerPhoneNumber>345-949-0699</issuerPhoneNumber>
        <jurisdictionOfInc>CAYMAN ISLANDS</jurisdictionOfInc>
        <issuerPreviousNameList>
            <value>None</value>
        </issuerPreviousNameList>
        <edgarPreviousNameList>
            <previousName>Polymer Asia (Cayman) Fund Ltd</previousName>
        </edgarPreviousNameList>
        <entityType>Corporation</entityType>
        <yearOfInc>
            <overFiveYears>true</overFiveYears>
        </yearOfInc>
    </primaryIssuer>

    <relatedPersonsList>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>-</firstName>
                <lastName>Polymer Capital Management (HK) Limited</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>24/F, Three Pacific Place</street1>
                <street2>1 Queen's Road East</street2>
                <city>Hong Kong</city>
                <stateOrCountry>K3</stateOrCountry>
                <stateOrCountryDescription>HONG KONG</stateOrCountryDescription>
                <zipCode>00000</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Promoter</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>Investment Manager</relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Angus</firstName>
                <middleName>Yuk Chi</middleName>
                <lastName>Wai</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>24/F, Three Pacific Place</street1>
                <street2>1 Queen's Road East</street2>
                <city>Hong Kong</city>
                <stateOrCountry>K3</stateOrCountry>
                <stateOrCountryDescription>HONG KONG</stateOrCountryDescription>
                <zipCode>00000</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Christopher</firstName>
                <middleName>Marcus</middleName>
                <lastName>Gradel</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>33/F, Three Pacific Place</street1>
                <street2>1 Queen's Road East</street2>
                <city>Hong Kong</city>
                <stateOrCountry>K3</stateOrCountry>
                <stateOrCountryDescription>HONG KONG</stateOrCountryDescription>
                <zipCode>00000</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Derek</firstName>
                <middleName>Roy</middleName>
                <lastName>Crane</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>33/F, Three Pacific Place</street1>
                <street2>1 Queen's Road East</street2>
                <city>Hong Kong</city>
                <stateOrCountry>K3</stateOrCountry>
                <stateOrCountryDescription>HONG KONG</stateOrCountryDescription>
                <zipCode>00000</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Robert</firstName>
                <middleName>Francis</middleName>
                <lastName>Grome</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>77 Cove Drive</street1>
                <city>Sentosa Island</city>
                <stateOrCountry>U0</stateOrCountry>
                <stateOrCountryDescription>SINGAPORE</stateOrCountryDescription>
                <zipCode>098179</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>David</firstName>
                <middleName>Geoffrey</middleName>
                <lastName>Torrible</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>32 Louisa Road</street1>
                <city>Birchgrove, NSW</city>
                <stateOrCountry>C3</stateOrCountry>
                <stateOrCountryDescription>AUSTRALIA</stateOrCountryDescription>
                <zipCode>2041</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Lei</firstName>
                <lastName>Chen</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>33/F, Three Pacific Place</street1>
                <street2>1 Queen's Road East</street2>
                <city>Hong Kong</city>
                <stateOrCountry>K3</stateOrCountry>
                <stateOrCountryDescription>HONG KONG</stateOrCountryDescription>
                <zipCode>00000</zipCode>
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            <relatedPersonRelationshipList>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>-</firstName>
                <lastName>Polymer Capital Management (US), LLC</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>825 Third Avenue</street1>
                <street2>Floor 26</street2>
                <city>New York</city>
                <stateOrCountry>NY</stateOrCountry>
                <stateOrCountryDescription>NEW YORK</stateOrCountryDescription>
                <zipCode>10022</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Promoter</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>Investment Manager</relationshipClarification>
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    </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>0000902664-25-001365</previousAccessionNumber>
            </newOrAmendment>
            <dateOfFirstSale>
                <value>2020-03-01</value>
            </dateOfFirstSale>
        </typeOfFiling>
        <durationOfOffering>
            <moreThanOneYear>true</moreThanOneYear>
        </durationOfOffering>
        <typesOfSecuritiesOffered>
            <isPooledInvestmentFundType>true</isPooledInvestmentFundType>
        </typesOfSecuritiesOffered>
        <businessCombinationTransaction>
            <isBusinessCombinationTransaction>false</isBusinessCombinationTransaction>
        </businessCombinationTransaction>
        <minimumInvestmentAccepted>0</minimumInvestmentAccepted>
        <salesCompensationList></salesCompensationList>
        <offeringSalesAmounts>
            <totalOfferingAmount>Indefinite</totalOfferingAmount>
            <totalAmountSold>892750000</totalAmountSold>
            <totalRemaining>Indefinite</totalRemaining>
        </offeringSalesAmounts>
        <investors>
            <hasNonAccreditedInvestors>false</hasNonAccreditedInvestors>
            <totalNumberAlreadyInvested>15</totalNumberAlreadyInvested>
        </investors>
        <salesCommissionsFindersFees>
            <salesCommissions>
                <dollarAmount>0</dollarAmount>
            </salesCommissions>
            <findersFees>
                <dollarAmount>0</dollarAmount>
            </findersFees>
            <clarificationOfResponse></clarificationOfResponse>
        </salesCommissionsFindersFees>
        <useOfProceeds>
            <grossProceedsUsed>
                <dollarAmount>0</dollarAmount>
            </grossProceedsUsed>
            <clarificationOfResponse>The Issuer charges a management fee that is described in the Issuer's offering documents.</clarificationOfResponse>
        </useOfProceeds>
        <signatureBlock>
            <authorizedRepresentative>false</authorizedRepresentative>
            <signature>
                <issuerName>Polymer Asia (Cayman) Fund Ltd.</issuerName>
                <signatureName>/s/ Angus Wai</signatureName>
                <nameOfSigner>Angus Wai</nameOfSigner>
                <signatureTitle>Director</signatureTitle>
                <signatureDate>2026-03-06</signatureDate>
            </signature>
        </signatureBlock>
    </offeringData>
</edgarSubmission>
