JOSHUA BAER, CAPITAL FACTORY CEO, DIES IN TEXAS PLANE CRASH

Joshua Baer, chief executive of Capital Factory, died when a private jet crashed on a Texas highway on Tuesday night. The aircraft, carrying six people, came down on Texas State Highway Loop 20 near Laredo after departing Los Cabos International Airport in Mexico bound for Austin-Bergstrom International Airport. The jet struck a car on the motorway, sending one motorist to hospital in stable condition. Capital Factory confirmed Baer's death and described him as a "visionary force, mentor, and champion for the Texas technology and startup ecosystem".

The pilot radioed air traffic controllers reporting low fuel and a power outage before losing communication with Laredo International Airport's tower. Laredo International Airport Director Gilberto Sanchez stated the aircraft experienced mechanical issues that led to the accident. Baer was known as the 'Godfather' of Austin's technology startup scene and operated his venture capital firm from the city. Capital Factory president Bryan Chambers characterised Baer as a "fearless leader" and "brilliant partner and dear friend" to colleagues.

Chambers stated that Capital Factory remains fully operational following the crash and remains committed to continuing Baer's mission of supporting founders. The organisation's leadership confirmed the company will persist with its existing operations. Emergency services responded to the scene as motorists attempted rescue efforts at the wreckage. The crash remains under investigation.