Investments

12 Months Ended

Dec. 31, 2022

Investments [Abstract]

Investments

Investments

a.    Short-term investments

	2022	2021
Securities (a)	45,544	151,866
Investments held in trust account (b)	240,311	—
Short-term investments	285,855	151,866

(a)Securities are liquid investment funds, with portfolios made of term deposits, equities, government bonds, and other short-term liquid securities.

(b)Investments held in trust account are investments received through the IPO transaction of PLAO. These funds are restricted and may only be used for purposes of completing an initial business combination or redemption of public shares. These securities are classified and accounted for as Fair Value Through Profit or Loss (“FVTPL”). The investments held in the trust account are comprised of U.S. government securities.

b.    Long-term investments

	2022	2021
Patria Growth Capital Fund I Fundo de Investimento em Participações Multiestratégia (a)	14,777	9,076
KMP Growth Fund II (Cayman), LP (“KMP Growth Fund II”) (b)	9,463	—
Lavoro Agro Fi Nas Cadeias Produtivas Agroindustriais Fiagro Direitos Creditorios (c)	4,427	—
Patria Infra Energia Core FIP EM Infraestrutura	4,184	5,085
Patria Crédito Estruturado Fundo de Investimento em Direitos Creditorios	—	1,765
Patria Brazil Real Estate Fund II, L.P. (d)	247	768
PBPE Fund III (Ontario), L.P. (d)	15	28
Other investments	2,144	1,556
Long-term investments	35,257	18,278

Investments in securities are expected to be maintained until the investment funds' respective termination dates and are measured at FVTPL. As of December 31, 2022, the Group's ownership interest in each of these investments (excluding interest owned indirectly through investment funds in note (a) and (b) below) range from 0.00006% to 13.2%. (December 31, 2021: 0.00006% to 4.45%)

(a)Patria Growth Capital Fund I Fundo de Investimento em Participações Multiestratégia is a fully owned investment fund that solely includes a late-stage venture capital investment as part of the Group’s growth equity strategy. As of December 31, 2022, an investment interest of 22.1% (December 31, 2021: 22.1%) is owned in Startse Informações e Sistemas S/A (“Startse”), an entity in Brazil providing an education platform and a crowdfunding platform for startups. The Group elected to measure the investment at fair value through profit or loss in accordance with IFRS 9.

(b)As part of the new investment fund launched in partnership with the Group’s associate, Kamaroopin, the Group committed capital of 64% of KMP Growth Fund II. As of December 31, 2022, KMP Growth Fund II held a 10% interest in one portfolio company, Dr. Consulta Clinica Medica Ltda., a Brazil-based healthcare technology company.

(c)An investment is held in Lavoro Agro Fi Nas Cadeias Produtivas Agroindustriais Fiagro Direitos Creditorios (13.2% of the net asset value as of December 31, 2022), a trust invested in securities related to agribusiness production chains in Brazil, such as agribusiness receivables, real estate receivables backed by credits from agribusiness production chains and liquidity assets within the agribusiness.

(d)These investments are subject to a participating share held by a related party in Patria Brazilian Private Equity III, Ltd., and Patria Brazil Real Estate Fund General Partner II, Ltd. that gives it the right to all returns in the related asset. Consequently, the Group has recorded a liability in the same amount (see note 17c).

(e)Following is the breakdown of long-term investments by region:

	2022	2021
Brazil	33,490	16,550
Other	1,767	1,728
Balance	35,257	18,278