The victim of Tuesday night’s fatal business jet crash in Laredo has been identified as Joshua Baer, the 50-year-old founder and CEO of Texas-based startup accelerator Capital Factory. Baer was the only fatality among the six people onboard the aircraft.
The Cessna Citation Latitude, operated by NetJets, was returning to Austin from San José del Cabo, Mexico, when it reportedly experienced mechanical issues. The aircraft crashed onto a highway while attempting to reach Laredo International Airport for an emergency landing.
The five other occupants survived the accident, with several able to exit the aircraft on their own while others received assistance from first responders and nearby motorists who rushed to help. Five police officers were also treated for smoke inhalation after responding to the crash scene.
Capital Factory confirmed Baer’s passing on Wednesday, with colleagues describing him as a visionary leader who helped shape Texas’ startup ecosystem for more than two decades. The National Transportation Safety Board (NTSB), supported by the FAA, is investigating the cause of the crash.