A passenger, top, jumps out of a plane after it crashed on a highway as other people help Tuesday, June 16, 2026, in Laredo, Texas. (Zayra Garza via AP)

Federal officials are investigating a private plane crash near Laredo that killed Austin tech giant Joshua Baer on Tuesday night.

The flight was on its way from Mexico to Austin when it crashed while trying to land at Laredo International Airport after reporting mechanical problems. Five other people on board the plane survived.

Baer was the founder and CEO of Austin-based Capital Factory, a venture capital firm with offices in Houston, San Antonio, Dallas, and Washington, D.C. The Federal Aviation Administration is investigating the crash.

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