The work to form Millennium Ventures started in October 1996. Founder, Al Kapoor, conceived the idea while a second year student at Harvard Business School.

Howard Stevenson, Chairman of the entrepreneurial faculty at Harvard Business School, encouraged Al's vision. With this encouragement, Al began to explore different business models and sought advice from experienced entrepreneurs, Andrew Cousin and Yosufi Tyebkhan. After graduation Al worked with Howard Stevenson and Michael Roberts in the entrepreneurial management faculty to develop a case study that included finding, acquiring and operating start-up to mid-sized companies. Al continued to gain support from other faculty members including Paul Marshall, Kent Bowen and Ananth Raman. He also began to expand his network of potential financiers, including Craig Burr, legendary venture capitalist from Boston, Ken Brody, former prominent partner of Goldman Sachs, and Tim Briglin who had joined the private equity industry after working as legislative assistant to Senator Patrick Leahy. David Eckert, a serial entrepreneur and former partner at Bain Consulting provided significant advice. Millennium Ventures initiated its first acquisition in 1998 and later expanded into early stage investments. The firm has been unique in its ability to be involved from search to investment and operations.