Capital Factory CEO Joshua Baer dies in Texas plane crash

Investing.com -- Joshua Baer, founder and chief executive officer of venture capital firm Capital Factory, died Tuesday in a plane crash near Laredo, Texas, according to the Austin American-Statesman.

The crash occurred at approximately 10 p.m. local time on a highway near Laredo when a business jet carrying six people went down while traveling from San José del Cabo, Mexico, to Austin. Police confirmed Baer was the only fatality in the incident.

Capital Factory President Bryan Chambers addressed the loss in a statement to the Statesman. "Joshua was a fearless leader, a brilliant partner, and a dear friend to so many of us," Chambers said. "While we are devastated by this unimaginable loss, Josh built an incredibly resilient organization and team. Capital Factory remains fully operational, and we are completely committed to continuing his mission."

Baer established Capital Factory in 2009 as a venture firm, startup accelerator and coworking space. The firm manages multiple investment funds that have supported hundreds of companies, with a focus on technology and manufacturing businesses in defense, aerospace, robotics and biotechnology sectors.

The firm's portfolio includes WP Engine, Apptronik, Colossal Biosciences and Firefly Aerospace. Capital Factory's coworking space has hosted military technology accelerator programs, including the Army Futures Command, the Air Force's AFWERX and the Department of Defense's Defense Innovation Unit.

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