Lambda Phi Epsilon was founded on February 25, 1981 by a group of nineteen dedicated men led by principal founder Mr. Craig Ishigo. Hoping to transcend the traditional boundaries of national origins, the founders aimed to create an organization that would set new standards of excellence within the Asian American community, develop leaders within each of the member's respective community, and bridge the gaps between those communities. While the initial charter was comprised of Asian Pacific Americans, the brotherhood was open to all who were interested in supporting these goals.