Company: PAX
Filing Date: 2025-04-30
Form Type: NT 20-F
Source: 0000950103-25-005481
Chunk: 0

Company: Patria Investments Ltd
Filing Date: 2025-04-30
Form: NT 20-F
Chunk 0
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Commission File Number: 001-39911

<div align='center'>UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 12b-25

NOTIFICATION OF LATE FILING</div>

| (Check One) | ☐ Form                                                  
 10-K  ☒ Form 20-F  ☐                                    
 Form 11-K  ☐ Form 10-Q                                  
 ☐ Form 10-D                                             
 ☐ Form N-CSR                                            
 For Period Ended: December 31, 2024                     |
|:------------|:--------------------------------------------------------|
|             | ☐ Transition                                            
 Report on Form 10-K                                     |
|             | ☐ Transition                                            
 Report on Form 20-F                                     |
|             | ☐ Transition                                            
 Report on Form 11-K                                     |
|             | ☐ Transition                                            
 Report on Form 10-Q                                     |
|             | For the Transaction Period ended: _____________________ |

| Nothing in this form shall be construed to imply that the Commission has verified any 
 information contained herein.                                                         |

If the notification relates to a portion of the filing checked above,
identify the Item(s) to which the notification relates:

PART I – REGISTRANT INFORMATION

| Patria Investments Limited                                |
| Full Name of Registrant                                   |
| N/A                                                       |
| Former Name if Applicable                                 |
| 60 Nexus Way, 4th floor, Camana Bay                       |
| Address of Principal Executive Office (Street and number) |
| Grand Cayman, KY1-9006, Cayman Islands                    |
| City, State and Zip Code                                  |

PART II – RULES 12b-25(b) and (c)

If the subject report could not be filed without unreasonable effort
or expense and the registrant seeks relief pursuant to Rule 12b-25(b), the following should be completed. (Check box if appropriate)

| ☒ | (a) The reason described in reasonable detail in Part                            
 III of this form could not be eliminated without unreasonable effort or expense; |

| ☒ | (b) The subject annual report, semi-annual report, transition                                                                                
 report on Form 10-K, Form 20-F, Form 11-K or Form N-CSR, or portion thereof, will be filed on or before the fifteenth calendar day following 
 the prescribed due date; or the subject quarterly report or transition report on Form 10-Q or subject distribution report on Form 10-D,