In October 1999, Jack Ma received his first angel investment of $5 million from private equity, led by Goldman Sachs and joined by first-class fund companies in the United States, Asia and Europe. In 2000, Jack Ma introduced the second round of financing for Alibaba, with an investment of $25 million from six venture capitalists including Softbank, Fidelity, Asia Capital, TDF and Swedish Investment. In February 2004, Alibaba raised funds for the third time, raising another $82 million from venture capitalists including Softbank, of which Softbank contributed $60 million.