Five Dragons sat on the investor panel when the BBC's Dragon's Den first began.
The original panel consisted of Duncan Bannatyne, Rachel Elnaugh, Peter Jones, Simon Woodroffe and Doug Richard. Their different commercial backgrounds created the central dynamic of the programme: entrepreneurs had to persuade several experienced business people that their proposal deserved investment.
The number of Dragons changed in later series as investors left and new ones joined. That turnover is why photographs or episodes from different periods may show a different-sized panel or a different combination of personalities.
The panel should not be confused with the number of entrepreneurs appearing in an episode. Each pitch is separate, and the number of people behind a business can vary. The answer describes the launch panel, not every later season.