Joshua Baer called himself an “Austinpreneur” — a nod to the Texas capital city and his passion for helping people launch businesses. His LinkedIn profile showed him in a black T-shirt, pointing to the words “I help people quit jobs,” a message he also used as an email handle.
Baer, 50, founded Capital Factory, an Austin-based venture capital firm that has grown into a significant force backing technology startups across a wide range of industries, including robotics and autonomous ships.
He summed up his personal philosophy simply: “Plant lots of seeds. Water everyone’s. Repeat.” Those who worked alongside him in Austin’s business community said that motto reflected exactly how he operated. In 2023, the city’s mayor presented him with a key to the city in recognition of his civic contributions.
Baer was on board a business jet Tuesday when it went down on a highway near Laredo, Texas. The pilots had reported mechanical trouble and asked to divert to a nearby airport for an emergency landing before the crash occurred.
Thom Singer, CEO of the Austin Technology Council, spoke to the impact of Baer’s passing. “Whether you’re in technology or not, there’s a hole in the heart of Austin today,” Singer said.
Bryan Chambers, co-founder and president of Capital Factory, remembered his business partner as a “true super connector.”
Baer’s path to becoming a central figure in Austin’s tech world began after he graduated from Carnegie Mellon University in Pittsburgh, where he had already started an email marketing company. He relocated to Austin in 1996 to work as a software developer at Trilogy Inc. He launched Capital Factory in 2009 and made a habit of meeting with aspiring entrepreneurs over coffee.
In a 2012 interview with the Austin American-Statesman, Baer described his mindset: “My hobby is startups. 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.”
Beyond the business world, Baer frequently spoke to high school students and held the title of “entrepreneur in residence” at the University of Texas.
Singer reflected on what drove Baer: “He was passionate that technology could change the world and make people’s lives efficient and better. And if entrepreneurs did it right, they could make money and help their communities. He believed in those two things.”
U.S. Sen. Ted Cruz, R-Texas, expressed grief over the loss. “Josh has been one of the most significant figures driving innovation and entrepreneurship across America. In Texas, he made our state a global leader,” Cruz said.
