Austin venture capital founder dies in Texas plane crash

Joshua Baer, 50, died Tuesday when a small jet crashed on a highway in Laredo, Texas, after the pilots reported mechanical problems and requested an emergency landing. Baer founded Capital Factory in 2009. The firm grew into an Austin-based venture capital company that supports technology startups working on projects from robots to autonomous ships.

Baer's career After graduating from Carnegie Mellon University, Baer moved to Austin in 1996 and worked as a software developer. He later described his hobby as startups and said he wanted to invest in every great tech company that came out of Austin.

Baer regularly held business chats at a coffee shop and served as entrepreneur in residence at the University of Texas. He also spoke to high school students about technology.

Reactions to the death The mayor gave Baer a key to the city in 2023.

A business leader at the Austin Technology Council said there is a hole in the heart of Austin today. A co-founder and president of Capital Factory described Baer as a true super connector. U.S. Sen. Ted Cruz said Baer was one of the most significant figures driving innovation and entrepreneurship across America.