A prominent technology leader and entrepreneur, Joshua Baer, died Tuesday when a small plane crashed along a highway in Laredo, Texas. The incident occurred just after 10 p.m. near Loop 20, where the aircraft was carrying six people at the time of impact. Five individuals survived the crash, while Baer—founder and CEO of Austin-based venture capital firm Capital Factory, established in 2009—perished in the collision.

Laredo International Airport Director Gilberto Sanchez confirmed the pilot reported mechanical issues to airport authorities during an attempted landing before losing communication with air traffic control. Video evidence from witnesses shows the aircraft on its side, engulfed in flames after smashing into a highway barrier, with motorists rushing to break cockpit windows to rescue passengers prior to emergency responders’ arrival. A vehicle struck by the aircraft sent its occupant to a hospital in stable condition.

Capital Factory President Bryan Chambers described Baer as “a fearless leader, a brilliant partner, and a dear friend to so many of us,” noting the organization remains operational despite the tragedy. U.S. Senator Ted Cruz (R-TX) stated, “Heidi and I are deeply saddened by the passing of Josh Baer and the tragic plane crash in Laredo. Josh has been one of the most significant figures driving innovation and entrepreneurship across America.” Senator John Cornyn (R-TX) added, “Deeply saddened to hear of the tragic passing of Josh Baer. He was an innovative and creative leader in Austin’s entrepreneurial culture.”

The Federal Aviation Administration and National Transportation Safety Board are investigating the cause of the crash, with preliminary reports indicating low fuel levels and a power outage reported by the pilot prior to the incident.