Five investors made up the original Dragon's Den panel when the UK series launched.
The first panel consisted of Peter Jones, Duncan Bannatyne, Rachel Elnaugh, Simon Woodroffe and Doug Richard. Together they established the format's characteristic mix of questioning styles, business experience and investment preferences.
Each original dragon brought a different public and commercial profile. Their contrasting reactions helped turn otherwise technical discussions about margins, valuation and equity into accessible television. Entrepreneurs could receive several offers, a single offer or no offer at all.
The panel did not remain unchanged. Investors departed, guest dragons appeared and later regulars joined, so the number and identity of dragons varied across series. The answer refers specifically to the launch panel, not to every later episode or the current line-up.