The first regular Dragon's Den panel had five investors: Peter Jones, Duncan Bannatyne, Rachel Elnaugh, Doug Richard and Simon Woodroffe.
The British series began on BBC Two in 2005, adapting a format that had already been successful internationally. Each investor brought a different business background, including technology, property, retail and entrepreneurship.
The number five refers to the original regular panel, not every investor who has appeared in the programme. The line-up changed over time as Dragons left and new investors joined. This distinction matters because guest and replacement Dragons have expanded the total number of people associated with the show.
The programme’s central format has remained consistent: entrepreneurs pitch for investment in exchange for an ownership stake. The Dragons can ask questions, negotiate terms or decline to invest.