Five original investors appeared on the first regular panel of BBC's Dragon's Den.
The original panel consisted of Duncan Bannatyne, Rachel Elnaugh, Peter Jones, Doug Richard and Simon Woodroffe. Together, they established the early British version of the format, with each investor bringing a different business background and investment style.
The panel’s job was to assess the entrepreneurs’ proposals, question their claims and decide whether to make an offer. A pitch could attract one Dragon, several Dragons or no offer at all. Offers were normally linked to a percentage share of the business, although the final terms could be negotiated after filming.
The line-up changed over time as investors left and new Dragons joined. That is why later series are often associated with a different panel, including Deborah Meaden, Theo Paphitis, James Caan, Hilary Devey and others. The number five refers specifically to the original regular panel.