Fact check: Shegun Otulana had a $1.25 billion exit.

Verdict: verified — Trust Score 90/100

The Instagram post accurately states that Shegun Otulana had a $1.25 billion exit from Therapy Brands in 2021, and he is the founder of Harmony Venture Labs (HVL), which is based in Birmingham, Alabama. HVL focuses on launching high-impact startups and building B2B software, and it is backed by strategic partnerships, including Innovate Alabama. These claims are confirmed by 12 sources.

verified verification card — Trust Score 90/100
Platform
instagram
Source author
afro.tech — see all fact-checks of this account
Original post
https://www.instagram.com/p/DbJXa0kmrGd/
Verified on
July 25, 2026
Verification ID
2XbBUjhRuOHT3DqgV-A7YA

Original content reviewed

Platform: INSTAGRAM Author: @afro.tech --- Caption/Description --- From a $1.2 billion exit to building an entire tech ecosystem! 🚀 Shegun Otulana is changing the venture landscape through Harmony Venture Labs (HVL), a Birmingham-based venture studio focused on launching high-impact startups from the ground up. Backed by strategic partnerships like Innovate Alabama, HVL is systematically solving industry problems, building B2B software, and keeping long-term economic value rooted in the local community. Tap AfroTech Latest News at the 🔗 in our bio for the full breakdown. #AFROTECH --- On-Screen Text (OCR) --- > AFTER A $1.25B EXIT, BIRMINGHAM, AL, FOUNDER SHEGUN OTULANA IS TURNING INDUSTRY PROBLEMS INTO PORTFOLIO COMPANIES AT HARMONY VENTURE LABS AFROTECH SOURCE PLATFORM: unclear Published: 2026-07-23T19:00:29.000Z ---VERIFICATION_SUMMARY--- Platform: INSTAGRAM Author: @afro.tech --- HOW TO VERIFY THIS (provenance-first) --- 1. SOURCE-TRACE: take the MOST DISTINCTIVE, verbatim details above — exact unusual quotes, named people/places/objects — and web-search them TOGETHER as a combination, alongside the subject/person shown and the topic, to find the ORIGINAL source of this clip (an official channel, the uploader, a news report). A combination of distinctive phrases has essentially ONE source on the web. 2. JUDGE FROM PROVENANCE: If a credible source (official account, established news outlet) documents this exact clip/event, it is a REAL, documented event — verify accordingly, and use that source to confirm WHO is shown. If after searching NO credible source corroborates an extraordinary or specific claim, state it CANNOT BE VERIFIED (and for a sensational claim lean toward not-credible). Do NOT default to "verified" on tangential, generic facts. --- Caption/Description --- From a $1.2 billion exit to building an entire tech ecosystem! 🚀 Shegun Otulana is changing the venture landscape through Harmony Venture Labs (HVL), a Birmingham-based venture

Claims analyzed (5)

  1. verified: Shegun Otulana had a $1.25 billion exit.
    Multiple sources confirm that Shegun Otulana exited Therapy Brands in 2021 for $1.25 billion, making it one of the largest software exits in Alabama's history.
  2. verified: Shegun Otulana is the founder of Harmony Venture Labs (HVL).
    Multiple sources confirm Shegun Otulana as the founder and CEO of Harmony Venture Labs (HVL).
  3. verified: Harmony Venture Labs is based in Birmingham, Alabama.
    Harmony Venture Labs is consistently described as a Birmingham-based venture studio across multiple sources.
  4. verified: HVL focuses on launching high-impact startups and building B2B software.
    Sources describe HVL as a venture studio focused on building and launching high-growth, high-impact startups, particularly in B2B software.
  5. verified: HVL is backed by strategic partnerships, including Innovate Alabama.
    Innovate Alabama has partnered with Harmony Venture Labs to launch the Innovate Alabama Venture Studio and Fund, confirming a strategic partnership.

Sources consulted (15)

Related verifications

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