Five investors normally sit on the panel in the British television programme Dragons' Den.
The programme's standard setup places five dragons opposite an entrepreneur or entrepreneurial team. Each investor can question the presenters, assess the valuation and decide whether to make an offer. The panel members are independent investors, so they may compete with one another, collaborate or decline to invest altogether.
The exact identities of the five people have changed across series. Some seasons have featured guest or replacement dragons, which can make viewers remember different panel line-ups. The number five, however, describes the programme's usual panel structure rather than a permanent list of individuals. This also explains why a pitch can receive multiple offers: every dragon is evaluating the same business but may bring a different industry background, investment strategy and view of the proposed deal.