Five Dragons made up the original investor panel of the British Dragon's Den.
The launch panel consisted of Rachel Elnaugh, Peter Jones, Duncan Bannatyne, Doug Richard and Theo Paphitis. Together, they established the programme's basic visual and dramatic structure: entrepreneurs stood before a row of investors, requested a specific amount and offered a percentage of their business.
The number can be confused with later series because the membership changed over time. Deborah Meaden joined in the third series, and different combinations of investors have subsequently appeared. Some episodes also feature guest or replacement Dragons, but the original lineup contained five investors.
The format relies on each Dragon having a different business background and investment appetite. A pitch can therefore produce competing offers, a joint offer or no offer at all. The five-person launch panel created the template for the many later combinations seen in the British series and its international adaptations.