3 min readUpdated: Jun 18, 2026 03:07 PM IST
Joshua Baer, the founder and CEO of Austin-based venture capital firm Capital Factory, was killed after a private jet carrying six people crashed and burst into flames on a highway in Laredo, Texas, on Tuesday night. The aircraft, a NetJets-operated Cessna Citation Latitude, had been travelling from San José del Cabo in Mexico to Austin when it reportedly encountered mechanical problems and attempted an emergency diversion to Laredo International Airport, according to Forbes.
Baer, 50, was the sole fatality in the crash. Five other passengers survived and were taken to the hospital in stable condition, while the driver of a vehicle struck by the aircraft was also injured but survived, The Guardian reported. Emergency responders and bystanders helped rescue survivors from the wreckage as flames engulfed the jet after impact.
The plane crashed short of the runway
According to The Guardian, the pilots had declared an emergency after experiencing mechanical difficulties and were attempting to land at Laredo International Airport. However, the aircraft fell short of the runway and crashed onto Loop 20 highway near the US-Mexico border, colliding with a passenger vehicle before catching fire. Investigations have been launched by the US National Transportation Safety Board (NTSB) and the Federal Aviation Administration (FAA).
NetJets, the private aviation company that operated the aircraft, expressed condolences to those affected and said it was cooperating fully with investigators. The company has also activated support teams for passengers, families and employees impacted by the incident.
Key figure in Austin’s startup ecosystem
Baer was widely regarded as one of the most influential figures in Texas’s technology sector. He founded Capital Factory in 2009, helping transform it into one of the state’s leading startup incubators and venture capital firms. The organisation has backed hundreds of technology startups and played a significant role in Austin’s emergence as a major innovation hub, according to Forbes.
Known for describing himself as an “Austinpreneur,” Baer spent decades mentoring entrepreneurs, investing in early-stage companies and promoting Texas as a destination for technology businesses. In 2023, he received a key to the city from Austin’s mayor in recognition of his contributions to the local startup ecosystem, the Associated Press reported.
Tributes pour in
Following confirmation of his death, tributes poured in from business leaders and politicians across Texas. Bryan Chambers, president and co-founder of Capital Factory, described Baer as a “visionary force” and a “true super connector” whose impact extended far beyond the technology industry. The firm said it would continue pursuing his mission of supporting entrepreneurs and innovators, according to Capital Factory statements cited by multiple media outlets.
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US Senators Ted Cruz and John Cornyn also paid tribute, praising Baer’s role in fostering innovation and entrepreneurship in Texas. Cornyn described him as an “innovative and creative leader” who helped shape Austin’s entrepreneurial culture, according to the Associated Press.
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