Exhibit 21.1
| Name | Jurisdiction | Primary Business |
| Zedra S.A. (to be changed to Patria Investments LATAM S.A.) | Uruguay | Holding |
| Patria Investments Cayman Ltd. | Cayman Islands | Holding |
| Patria Finance Ltd. | Cayman Islands | Management Company and Financial Advisory Services |
| Patria Brazilian Private Equity III, Ltd. | Cayman Islands | Manager or Administrator of Funds |
| Patria Brazilian Private Equity General Partner IV, Ltd. | Cayman Islands | Same as above |
| PBPE General Partner V, Ltd. | Cayman Islands | Same as above |
| Patria Brazilian Private Equity General Partner VI, Ltd. | Cayman Islands | Same as above |
| Patria Brazil Real Estate Fund General Partner II Ltd. | Cayman Islands | Same as above |
| Patria Brazil Real Estate Fund General Partner III Ltd. | Cayman Islands | Same as above |
| Patria Brazil Retail Property Fund General Partner, Ltd. | Cayman Islands | Same as above |
| Patria Infrastructure General Partner II Ltd. | Cayman Islands | Same as above |
| Patria Infrastructure General Partner III Ltd. | Cayman Islands | Same as above |
| Patria Infrastructure General Partner IV, Ltd. | Cayman Islands | Same as above |
| Patria Farmland General Partner, Ltd. | Cayman Islands | Same as above |
| Patria Investments UK Ltd. |
London (UK) |
Investor relations and marketing of fund |
| Patria Investments Hong Kong, Ltd. | Hong Kong | Investor relations and marketing of fund |
| Patria Investments US LLC | Delaware (US) | Investor relations and marketing of fund |
| Patria Investments Chile SpA | Chile | Advisory services related to asset management of investment funds and other investments |
| Patria Investments Colombia S.A.S. | Bogotá (Colombia) | Advisory services related to asset management of investment funds and other investments |
| Improden S.A. (to be changed to Patria Investments Uruguay S.A.) | Uruguay | Financial advisory services for |
| foreign clients | ||
| Pátria Investimentos Ltda. | Brazil | Management of Brazilian funds and providing financial advisory services for foreign clients |
| Pátria Companhia Securitizadora de Créditos Imobiliários | Brazil | Securitization of Real Estate Credits |