Company: PAX
Filing Date: 2025-01-16
Form Type: 424B3
Source: 0000950103-25-000600
Chunk: 15

Company: Patria Investments Ltd
Filing Date: 2025-01-16
Form: 424B3
Chunk 15
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center'>5

Risk Factors</div>

Any investment in the Class
A common shares involves a high degree of risk. Before purchasing any securities, you should carefully consider and evaluate all of the
information included and incorporated by reference in this prospectus or any applicable prospectus supplement, including the risk factors
incorporated by reference from our most recent annual report on Form 20-F, as updated by other reports and documents we file with the
SEC after the date of this prospectus that are incorporated by reference herein or in the applicable prospectus supplement. See “Incorporation
of Documents by Reference” and “Where You Can Find More Information.” Additional risk factors that you should carefully
consider may be included in a prospectus supplement or other offering materials relating to an offering of our Class A common shares.

We encourage you to read
these risk factors in their entirety. In addition to these risks, other risks and uncertainties not presently known to us or that we currently
deem immaterial may also adversely affect our business operations and financial condition. Such risks could cause actual results to differ
materially from anticipated results. This could cause the trading price of the securities to decline, perhaps significantly, and investors
may lose part or all of their investment. You should not purchase the securities described in this prospectus unless you understand and
know you can bear all of the investment risks involved.

In general, investing in
the securities of issuers with operations in emerging market countries such as Brazil, Chile and other Latin American countries involves
risks that are different from the risks associated with investing in the securities of U.S. companies and companies located in other countries
with more developed capital markets.

<div align='center'>6

Patria Investments
Limited</div>

We are a leading global alternative
investment firm focused on Latin America, with combined assets under management, or “AUM,” of US$27.2 billion and US$23.8
billion as of December 31, 2022 and 2021, respectively. With offices in ten cities across four continents, we serve over 500 limited partners,
or “LPs.” Our current product offering encompasses six product lines – private equity, infrastructure, credit, public
equities, real estate, and advisory and distribution. As of December 31, 2022 and 2021, we had 80 and 60 active funds, respectively.

We seek to provide global
and Latin American investors with attractive investment products that allow for portfolio