The original UK Dragons' Den panel had five investors.
The first British panel consisted of five Dragons: Duncan Bannatyne, Rachel Elnaugh, Peter Jones, Doug Richard and Simon Woodroffe. Presenters pitched to the group together, allowing the investors to question one another as well as the entrepreneur. This group established the panel format that later became familiar to viewers.
The number of investors has not always been identical across versions or series. International adaptations selected their own panel sizes, and the UK programme has also had changes in its line-up. That is why the original panel count should not be inferred from a later episode or from another country's edition.
The five-person panel also helped create the show's distinctive negotiation dynamic. An investor could make an offer independently, invite another Dragon to join, or withdraw after hearing objections. The panel's collective questioning is a defining feature of the UK programme.