diff --git a/docs/schema_markdown/schema/files/OCFManifestFile.md b/docs/schema_markdown/schema/files/OCFManifestFile.md
index 866aff9b2..e0e86bd1f 100644
--- a/docs/schema_markdown/schema/files/OCFManifestFile.md
+++ b/docs/schema_markdown/schema/files/OCFManifestFile.md
@@ -15,7 +15,7 @@
 | Property                     | Type                                                                                             | Description                                                                                                                                                                                                                                              | Required   |
 | ---------------------------- | ------------------------------------------------------------------------------------------------ | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ---------- |
 | file_type                    | **Constant:** `OCF_MANIFEST_FILE`</br>_Defined in [schema/enums/FileType](../enums/FileType.md)_ | Object type field                                                                                                                                                                                                                                        | `REQUIRED` |
-| ocf_version                  | **Constant:** `1.1.1-alpha+main`                                                                 | OCF Version Identifier -- the current semantic version (https://semver.org/spec/v2.0.0.html)                                                                                                                                                             | `REQUIRED` |
+| ocf_version                  | **Constant:** `1.2.1-alpha+main`                                                                 | OCF Version Identifier -- the current semantic version (https://semver.org/spec/v2.0.0.html)                                                                                                                                                             | `REQUIRED` |
 | issuer                       | [schema/objects/Issuer](../objects/Issuer.md)                                                    | Issuer for the cap table                                                                                                                                                                                                                                 | `REQUIRED` |
 | as_of                        | [schema/types/Date](../types/Date.md)                                                            | The point-in-time represented by this OCF Package                                                                                                                                                                                                        | `REQUIRED` |
 | generated_at                 | `STRING`                                                                                         | Timestamp of when the package was generated. Useful when determining which set of data is most up-to-date, if presented with two packages that have the same `as_of` date, but different cap table data.                                                 | `REQUIRED` |
diff --git a/samples/Manifest.ocf.json b/samples/Manifest.ocf.json
index ddeb86b0e..4dfdb58ee 100644
--- a/samples/Manifest.ocf.json
+++ b/samples/Manifest.ocf.json
@@ -1,5 +1,5 @@
 {
-  "ocf_version": "1.1.1-alpha+main",
+  "ocf_version": "1.2.1-alpha+main",
   "file_type": "OCF_MANIFEST_FILE",
   "issuer": {
     "object_type": "ISSUER",
diff --git a/schema/files/OCFManifestFile.schema.json b/schema/files/OCFManifestFile.schema.json
index 36e2e34c4..8894b0a3b 100644
--- a/schema/files/OCFManifestFile.schema.json
+++ b/schema/files/OCFManifestFile.schema.json
@@ -12,7 +12,7 @@
   "properties": {
     "ocf_version": {
       "description": "OCF Version Identifier -- the current semantic version (https://semver.org/spec/v2.0.0.html)",
-      "const": "1.1.1-alpha+main"
+      "const": "1.2.1-alpha+main"
     },
     "file_type": {
       "const": "OCF_MANIFEST_FILE"