10 Photos of Joshua Baer: Capital Factory CEO Dies in Tragic Texas Jet Crash After Plane Smashes Into Highway

Capital Factory President Bryan Chambers said in a statement: 'Josh was a fearless leader, a brilliant partner, and a dear friend to so many of us. While we are devastated by this unimaginable loss, Josh built an incredibly resilient organisation and a deeply capable team. Capital Factory remains fully operational, and we are completely committed to continuing his mission of backing unstoppable founders.'

Capital Factory added that out of respect for Baer's family and the active investigation into the crash, the company would not comment further. The NTSB is expected to retrieve the aircraft's flight data recorder and cockpit voice recorder as part of its ongoing inquiry into the cause of the crash.

The loss of Joshua Baer closes a chapter in Texas technology history that he almost entirely wrote himself.

Mechanical Trouble, Low Fuel And A Desperate Diversion

Laredo International Airport director Gilberto Sanchez told CBS News that the airport received an alert at 21:58 local time indicating that the Cessna Citation was experiencing mechanical issues and was low on fuel. The aircraft had already been diverted away from its original Austin destination.

According to Laredo police, the plane lost contact with air traffic controllers before crashing approximately 2.5 miles short of the runway. Flight data from FlightRadar24 shows the jet departed San José del Cabo at approximately 18:18 local time and was bound for Austin before being diverted toward Laredo.

A separate dashcam video, verified by NBC News, shows the aircraft skidding down the highway as it crashed, knocking over several street lights. Flames rose from the fuselage while traffic on one of Laredo's major arteries ground to a standstill.

Drivers Rush In As Burning Jet Hits Highway

The crash unfolded in public view and provoked an immediate civilian response. About seven drivers abandoned their cars to assist the victims. Two of them tried to break through the cockpit window, smashing it with a sledgehammer and a shovel. Most plane passengers were able to exit the jet on their own.

Eyewitness Zayra Garza, an esthetician, told the Associated Press: 'It looked like part of a movie. I was in shock. What was worrying me was the fire. I was concerned that it could have just exploded at any time.'

The plane also struck a moving vehicle as it descended. At least one person in that vehicle was taken to hospital in stable condition. About five officers were treated for smoke inhalation. One of those on the plane was pronounced dead at the scene; the other five were taken to local hospitals and reported to be in stable condition.

NetJets confirmed in a statement that the aircraft, tail number N523QS, was part of its fleet, and that the company is cooperating with authorities. 'Our immediate concern is for the well-being of our Crewmembers, our passengers, and their families during this time,' NetJets said. NetJets is owned by Warren Buffett's Berkshire Hathaway.

Who Was Joshua Baer?

Baer founded his first start-up in 1996 in his college dormitory at Carnegie Mellon University, where he studied computer science. That company, Skylist, became one of the first email marketing platforms in the United States and was acquired by PulsePoint, formerly Datran Media, for a low eight-figure sum after ten years of operations without outside funding.

His entrepreneurial background also includes UnsubCentral, purchased by PostUp, and OtherInbox, which was acquired by Return Path. He channelled the proceeds and the lessons from those exits into Capital Factory, which he founded in 2009.

Under his leadership, Capital Factory grew to become the most active early-stage investor in Texas, managing a portfolio of hundreds of companies across enterprise software and defence technology. Baer also taught a class at the University of Texas for student entrepreneurs and was recognised as a Henry Crown Fellow and Braddock Scholar at the Aspen Institute, a member of the National Committee on US-China Relations Young Leaders Forum, and an Eisenhower Fellow.

Baer also served as a Texas Tribune board member between 2015 and 2017. He is survived by his wife Amy and their three children.

Industry Mourns Key Architect Of Texas Tech

Tributes from across the technology and political world followed confirmation of Baer's death. Congressman John Carter said: 'He was a disruptor, a brilliant innovator, and had immense enthusiasm for helping others succeed.'

Capital Factory president Bryan Chambers said in a statement: 'Josh was a fearless leader, a brilliant partner, and a dear friend to so many of us. While we are devastated by this unimaginable loss, Josh built an incredibly resilient organisation and a deeply capable team. Capital Factory remains fully operational, and we are completely committed to continuing his mission of backing unstoppable founders.'

Capital Factory added that out of respect for Baer's family and the active investigation into the crash, the company would not comment further. The NTSB is expected to retrieve the aircraft's flight data recorder and cockpit voice recorder as part of its ongoing inquiry into the cause of the crash.

Baer's death marks the loss of a central figure in the story of Texas technology.