Capital Factory CEO Joshua Baer dies in Laredo jet crash
Joshua Baer, co-founder and chief executive of the Austin-based startup accelerator Capital Factory, was killed when a Cessna Citation Latitude crashed near Laredo, Texas, while five other occupants survived with minor injuries.
A small business jet crashed onto Loop 20 near Laredo International Airport shortly before 10 p.m. on Tuesday, killing Capital Factory co-founder and CEO Joshua Baer. The aircraft, a NetJets-operated Cessna Citation Latitude that had departed San José del Cabo, Mexico, reported mechanical problems before descending and striking a moving vehicle about 2.5 miles short of the runway. One occupant of the car was hospitalized.
Five other passengers survived the impact and were taken to a local hospital; their injuries were not considered serious. Five Laredo police officers were also treated for injuries sustained while assisting with the rescue.
Laredo Mayor Dr. Victor Trevino praised the actions of first responders, saying they risked their own safety to reach the aircraft.
"There were police officers and firefighters who put themselves in harm's way and risked their own lives to reach the aircraft and rescue passengers," Trevino said at a press conference.
Capital Factory confirmed Baer's death, noting his two-decade role in supporting Texas entrepreneurs. The company said it will continue its operations while requesting privacy for Baer's family.
Federal investigators from the National Transportation Safety Board and the Federal Aviation Administration have begun a detailed investigation, examining the aircraft’s mechanical records, crew training, weather conditions, and data from the cockpit voice and flight data recorders. The probe is expected to take up to two years.
Andres Pereira, senior attorney with DJC Law, said the reported mechanical issues could involve any number of systems, and that investigators will sequester all physical remnants of the aircraft for analysis.
