Five dragons sat on the regular investment panel in the first UK series of Dragon's Den.
The original panel consisted of Peter Jones, Duncan Bannatyne, Rachel Elnaugh, Simon Woodroffe and Doug Richard. Together they established the show's early investor format, with each dragon questioning entrepreneurs about valuation, sales, costs and ownership.
The number can be confusing because later series have used different combinations of regular and guest investors. Some episodes also feature a smaller number of dragons in particular pitches, while special episodes and replacements change the visible panel. The first series nevertheless had five regular investors.
The panel's variety was central to the format. Their backgrounds covered technology, leisure, retail, design and entrepreneurship, giving contestants the possibility of finding an investor whose experience matched the business. A pitch could attract one dragon, several dragons or no offer at all.