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

    <schemaVersion>X0708</schemaVersion>

    <submissionType>D/A</submissionType>

    <testOrLive>LIVE</testOrLive>

    <primaryIssuer>
        <cik>0001958994</cik>
        <entityName>Apollo Asia Fund Ltd</entityName>
        <issuerAddress>
            <street1>Suite 3001 W50</street1>
            <street2>50 Wong Chuk Hang Road</street2>
            <city>Hong Kong</city>
            <stateOrCountry>K3</stateOrCountry>
            <stateOrCountryDescription>HONG KONG</stateOrCountryDescription>
            <zipCode>00000</zipCode>
        </issuerAddress>
        <issuerPhoneNumber>852-37582608</issuerPhoneNumber>
        <jurisdictionOfInc>VIRGIN ISLANDS, BRITISH</jurisdictionOfInc>
        <issuerPreviousNameList>
            <value>None</value>
        </issuerPreviousNameList>
        <edgarPreviousNameList>
            <value>None</value>
        </edgarPreviousNameList>
        <entityType>Other</entityType>
        <entityTypeOtherDesc>BVI Business Company</entityTypeOtherDesc>
        <yearOfInc>
            <overFiveYears>true</overFiveYears>
        </yearOfInc>
    </primaryIssuer>

    <relatedPersonsList>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>N/A</firstName>
                <lastName>Ascender Capital Limited</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>Suite 3001 W50</street1>
                <street2>50 Wong Chuk Hang Road</street2>
                <city>Hong Kong</city>
                <stateOrCountry>K3</stateOrCountry>
                <stateOrCountryDescription>HONG KONG</stateOrCountryDescription>
                <zipCode>00000</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Promoter</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>New investment manager to the issuer.</relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Claire</firstName>
                <middleName>Juliet Cecilia</middleName>
                <lastName>Barnes</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>28 Jalan Tebu</street1>
                <street2>Ukay Heights</street2>
                <city>Ampang</city>
                <stateOrCountry>N8</stateOrCountry>
                <stateOrCountryDescription>MALAYSIA</stateOrCountryDescription>
                <zipCode>68000</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification></relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Richard</firstName>
                <middleName>Philip Matthew</middleName>
                <lastName>Armstrong</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>House 43</street1>
                <street2>Ford Avenue</street2>
                <city>Singapore</city>
                <stateOrCountry>U0</stateOrCountry>
                <stateOrCountryDescription>SINGAPORE</stateOrCountryDescription>
                <zipCode>268721</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification></relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Edouard</firstName>
                <middleName>Georges Henri Marie</middleName>
                <lastName>Mercier</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>Flat 8</street1>
                <street2>25 Stanley Market Road, Stanley</street2>
                <city>Hong Kong</city>
                <stateOrCountry>K3</stateOrCountry>
                <stateOrCountryDescription>HONG KONG</stateOrCountryDescription>
                <zipCode>00000</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>New director.</relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Jean-Charles</firstName>
                <middleName>Henri Gustave</middleName>
                <lastName>Tisserand</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>Block C Unit 3, Grosse Pointe Villa</street1>
                <street2>4 Stanley Village Road, Stanley</street2>
                <city>Hong Kong</city>
                <stateOrCountry>K3</stateOrCountry>
                <stateOrCountryDescription>HONG KONG</stateOrCountryDescription>
                <zipCode>00000</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>New director.</relationshipClarification>
        </relatedPersonInfo>
    </relatedPersonsList>

    <offeringData>
        <industryGroup>
            <industryGroupType>Pooled Investment Fund</industryGroupType>
            <investmentFundInfo>
                <investmentFundType>Other Investment 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>0001958994-23-000001</previousAccessionNumber>
            </newOrAmendment>
            <dateOfFirstSale>
                <value>2023-01-01</value>
            </dateOfFirstSale>
        </typeOfFiling>
        <durationOfOffering>
            <moreThanOneYear>true</moreThanOneYear>
        </durationOfOffering>
        <typesOfSecuritiesOffered>
            <isPooledInvestmentFundType>true</isPooledInvestmentFundType>
        </typesOfSecuritiesOffered>
        <businessCombinationTransaction>
            <isBusinessCombinationTransaction>false</isBusinessCombinationTransaction>
            <clarificationOfResponse></clarificationOfResponse>
        </businessCombinationTransaction>
        <minimumInvestmentAccepted>100000</minimumInvestmentAccepted>
        <salesCompensationList></salesCompensationList>
        <offeringSalesAmounts>
            <totalOfferingAmount>Indefinite</totalOfferingAmount>
            <totalAmountSold>0</totalAmountSold>
            <totalRemaining>Indefinite</totalRemaining>
            <clarificationOfResponse>The total amount sold and number of investors disclosed in this Form D only reflect sales to US investors.</clarificationOfResponse>
        </offeringSalesAmounts>
        <investors>
            <hasNonAccreditedInvestors>false</hasNonAccreditedInvestors>
            <totalNumberAlreadyInvested>0</totalNumberAlreadyInvested>
        </investors>
        <salesCommissionsFindersFees>
            <salesCommissions>
                <dollarAmount>0</dollarAmount>
            </salesCommissions>
            <findersFees>
                <dollarAmount>0</dollarAmount>
            </findersFees>
            <clarificationOfResponse></clarificationOfResponse>
        </salesCommissionsFindersFees>
        <useOfProceeds>
            <grossProceedsUsed>
                <dollarAmount>0</dollarAmount>
            </grossProceedsUsed>
            <clarificationOfResponse>No gross proceeds of the offering has been or will be used for payments to any of the directors and promoter named under Item 3.</clarificationOfResponse>
        </useOfProceeds>
        <signatureBlock>
            <authorizedRepresentative>false</authorizedRepresentative>
            <signature>
                <issuerName>Apollo Asia Fund Ltd</issuerName>
                <signatureName>Claire Juliet Cecilia Barnes</signatureName>
                <nameOfSigner>Claire Juliet Cecilia Barnes</nameOfSigner>
                <signatureTitle>Director</signatureTitle>
                <signatureDate>2025-12-10</signatureDate>
            </signature>
        </signatureBlock>
    </offeringData>
</edgarSubmission>
