Five investors made up the original Dragon panel when the British television show Dragon's Den launched.
The original lineup consisted of Peter Jones, Duncan Bannatyne, Rachel Elnaugh, Simon Woodroffe and Doug Richard. Together they established the format's central visual: an entrepreneur facing a row of financially experienced investors whose questions could determine whether a deal was possible.
The panel did not remain fixed. Investors left, joined or returned across later series, which is why viewers may remember different numbers and combinations of Dragons from different periods.
The number five refers specifically to the launch panel, not to every later episode. Some episodes also used guest Dragons or featured changes caused by availability, so counting a later lineup would produce a different result.