Company: PAX
Filing Date: 2025-01-16
Form Type: 424B3
Source: 0000950103-25-000600
Chunk: 2

Company: Patria Investments Ltd
Filing Date: 2025-01-16
Form: 424B3
Chunk 2
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should carefully read both this prospectus supplement and the accompanying prospectus, together with the additional information described
under the heading “Where You Can Find More Information” in the accompanying prospectus.

On June 9, 2022, Patria’s economic group
entered into a transaction agreement, as amended (the “VBI Transaction Agreement”) to acquire certain equity interests in
VBI Real Estate Gestão de Carteiras S.A. (“VBI Real Estate” or “VBI”) one of the leading independent alternative
real estate asset managers in Brazil. Pursuant to the VBI Transaction Agreement, we granted certain registration rights to certain shareholders
of VBI. The payment of part of the relevant purchase price / and of the investment amount for such acquisition was by means of the delivery
of Class A common shares issued by Patria to VBI and to the respective selling shareholders, and the transaction was subject to certain
conditions precedent (all conditions precedent have been duly implemented).

<div align='center'>S-1

Risk Factors</div>

Investing in Patria’s Class A common shares
involves risk. Before you invest in the Class A common shares, you should carefully consider all of the risk factors incorporated by reference
in this prospectus supplement, including the risk factors set forth in our Annual Report on Form 20-F for the year ended December 31,
2023, and any subsequent Current Reports on Form 6-K. You should also carefully consider all of the other information included or incorporated
by reference in this prospectus supplement. The occurrence of any of these risks could materially and adversely affect our business, financial
condition, liquidity, cash flows, results of operations, prospects, and our ability to make or sustain distributions to our stockholders,
which could result in a partial or complete loss of your investment in the Class A common shares. Some statements in this prospectus supplement
constitute forward-looking statements. See “Cautionary Statement Regarding Forward-Looking Statements” in the accompanying
prospectus.

<div align='center'>S-2

Use of Proceeds</div>

Patria will not receive any of the proceeds from
any issuance of Class A common shares to the Selling Stockholders or from any sale of such shares by the Selling Stockholders.

The Selling Stockholders will pay any underwriting
fees, discounts or commissions attributable to the sale of the shares registered under this prospectus supplement, or any fees and expenses
of any broker-dealer or other