Austin startup leader Joshua Baer dies in Texas jet crash at 50
Joshua Baer, founder of Capital Factory and a prominent Austin tech connector, died after a business jet crashed on a highway in Laredo, Texas.
By Hana Yoshida · Markets Reporter
3 min read
Joshua Baer, the founder and CEO of Capital Factory, died at 50 after a small business jet crashed on a highway in Laredo, Texas, the Associated Press reported. His death drew tributes from Austin’s technology community, where Baer was widely known for backing startups and connecting founders with investors.
The Associated Press reported that Baer was aboard the jet when it went down Tuesday after pilots reported mechanical trouble and asked to make an emergency landing at an airport. Three young people survived the crash, AP reported, and it was not known whether they were related to Baer.
Baer described himself as an “Austinpreneur,” a nod to the Texas capital and his focus on helping people start companies, according to AP. His LinkedIn profile said he had a wife and three children.
A central figure in Austin tech
Baer founded Capital Factory in 2009, according to AP. The Austin-based venture capital firm became a prominent supporter of technology startups, including companies working on robots and autonomous ships, AP reported.
Capital Factory’s downtown Austin offices sit near locations for large technology companies including Google, according to AP. Baer’s LinkedIn page showed him wearing a black T-shirt and pointing to the message, “I help people quit jobs,” AP reported.
Thom Singer, CEO of the Austin Technology Council, said Baer’s death was being felt beyond the technology sector. “Whether you’re in technology or not, there’s a hole in the heart of Austin today,” Singer told AP.
Bryan Chambers, Capital Factory’s co-founder and president, called Baer a “true super connector,” according to AP. Baer wrote that his life strategy was: “Plant lots of seeds. Water everyone’s. Repeat,” AP reported.
In 2023, Austin’s mayor awarded Baer a key to the city, a civic honor, according to AP. The recognition reflected Baer’s high profile in the city’s startup community.
From Carnegie Mellon to Capital Factory
Baer graduated from Carnegie Mellon University in Pittsburgh, where he created an email marketing business, according to AP. He moved to Austin in 1996 to work as a software developer at Trilogy Inc.
After starting Capital Factory, Baer regularly met with people for business conversations at a coffee shop, AP reported. In a 2012 interview with the Austin American-Statesman, Baer described startups as his main pursuit.
“My hobby is startups,” Baer told the Austin American-Statesman in 2012, according to AP. “I don’t watch sports or anything like that. So this is what I do. … I want to be an investor in every great tech company that comes out of Austin. That’s probably unrealistic, but I’m going to try anyway.”
Baer also spoke often to high school students and held the title of entrepreneur in residence at the University of Texas, according to AP.
Singer told AP that Baer believed technology could improve lives and that entrepreneurs could build companies while also helping their communities. Texas U.S. Sens. Ted Cruz and John Cornyn said they were saddened by Baer’s death, AP reported.
Cornyn wrote on X that Baer was an “innovative & creative leader in Austin’s entrepreneurial culture,” according to AP.
This story draws on original reporting from Fortune.