Joshua Baer, the founder and CEO of Texas accelerator Capital Factory, died on Tuesday night in a business jet crash in Laredo, Texas

Joshua Baer, the founder and CEO of Capital Factory, was killed Tuesday night when a business jet crashed in Laredo, Texas. The news was first reported by KXAN.

Baer built Capital Factory into a prominent Texas accelerator, becoming a well-known figure in the state's startup ecosystem. His death marks a significant loss for the Austin tech community and the broader network of founders and investors connected to the organization.

Details surrounding the crash remain limited. No additional information about other passengers, the aircraft, or the circumstances of the incident has been disclosed at this time.

Capital Factory has served as a launchpad for Texas-based startups, providing mentorship, workspace, and connections to investors. Baer's leadership was central to that mission. The startup world is now grappling with the sudden loss of one of its prominent community builders.