LAREDO, Texas — A private jet carrying six people crashed and burst into flames on a Texas highway Tuesday night, killing millionaire tech CEO Joshua Baer, authorities confirmed.

Baer, the founder and head of the prominent Austin-based startup accelerator Capital Factory, was among those onboard the NetJets-operated Cessna Citation Latitude when the aircraft came down upside down on a highway near Laredo shortly after 10 p.m.

Dramatic video from the scene showed the plane engulfed in flames as first responders and bystanders worked to assist those on board. The fiery crash-landing shocked the local community and sent shockwaves through the tech world, where Baer was well-known as an entrepreneur and investor.

The cause of the crash remains under investigation by federal authorities, including the National Transportation Safety Board (NTSB) and the Federal Aviation Administration (FAA). It is unclear at this time what led to the aircraft’s emergency descent onto the highway.

Baer was remembered by colleagues and friends as a visionary leader who played a significant role in fostering innovation and supporting startups across Texas.

This tragic incident marks a devastating loss for the technology community and Baer’s loved ones. Our thoughts and prayers are with the families of all those affected by this crash.

The investigation into the circumstances surrounding the private jet crash is ongoing. Further updates will be provided as more information becomes available.