Five Dragons normally sit on the investment panel in the British television programme Dragon's Den.
The five-person panel gives entrepreneurs access to investors with different backgrounds, industries and approaches to risk. A pitch may therefore receive several offers, one offer, or no offer at all, depending on how the panel assesses the business and its valuation.
The line-up changes across series, and occasional episodes can feature guest or replacement Dragons. That variation can make the panel seem inconsistent, but the standard format is built around five seats. The number is also easy to confuse with other versions of the franchise: international adaptations may use different panel sizes or branding, even though the UK programme traditionally presents five Dragons together in the den.