Capital Factory founder Joshua Baer was killed in a plane crash on his way back to Austin from a vacation destination in Mexico late Tuesday night.
The news was first reported by the Austin American-Statesman. Tech leaders and politicians, including Congressman John Carter, expressed condolences in posts on social media. "He was a disruptor, a brilliant innovator, and had immense enthusiasm for helping others succeed," Carter said.
The private plane crash happened on Loop 20 in Laredo, a few miles south of the city's airport. Video posted by the Laredo Police Department shows firefighters spraying the plane, which landed on a vehicle barrier on the highway.
Police received a call about the crash right before 10 p.m. Tuesday from the airport tower.
Baer founded Capital Factory, a tech investment company based in Austin, in 2009. Baer is the entrepreneur in residence for the Department of Computer Science at the University of Texas at Austin, according to his UT bio page, which says he lives in Austin with his wife and three children.
Baer was also a speaker at the KUT Festival in May on a panel about AI in Austin.
A business jet with six people on board crashed on a highway in Laredo, Texas, and caught fire Tuesday night, authorities said, killing one person and causing chaos as people left their vehicles to frantically try to smash the cockpit window and free those inside. pic.twitter.com/NxwKuoLo7w
— The Associated Press (@AP) June 17, 2026
Six people were inside the plane, said investigator Jose Baeza with LPD at a news conference posted online. They were taken out by first responders, but Baer did not survive.
Five officers were taken to the hospital for smoke inhalation and the plane crash caused road closures in the area.
The flight was operated by NetJets, a company that leases private planes.
"Our immediate concern is for the well-being of our Crewmembers, our passengers, and their families during this time," Netjets wrote in an email. "We are activating our crisis response and family support teams to support those affected and their loved ones, and we are deploying a team of experts to the site of the accident."
The plane was flying from Los Cabos, Mexico, to Austin when it experienced "mechanical difficulties," according to Gilberto Sanchez, the director of Laredo International Airport.
The jet was at about 43,000 feet in the air before it began descending over an hour into its flight. Over the next 30 minutes, the plane lost speed and altitude until it ultimately crashed several miles short of the airfield, according to information from FlightAware and Sanchez.
The plane came to a stop after hitting a car on the highway, the airport director said.
"LRD commends the swift response of the Laredo Police Department, Laredo Fire Department, area first responders, and the bystanders who acted without hesitation to assist those aboard the aircraft," Sanchez wrote in an email to KUT News. "Their efforts under extremely hazardous conditions were instrumental in the rescue of five lives. "
The FBI, National Transportation Safety Board and the Transportation Security Administration are investigating the incident.
This is a developing story.
KUT's Andy Jechow contributed to this story.
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