Rachel Elnaugh was the first woman to join the investment panel of the British television programme Dragon's Den.
Elnaugh became one of the original Dragons in the early British series. She was known for founding Red Letter Days, a company selling experience gifts, and brought an entrepreneurial perspective to a panel initially dominated by male investors. Her participation made her the programme's first female Dragon.
Deborah Meaden later became one of the show's most recognisable investors, but she was not the first woman on the British panel. That distinction belongs to Elnaugh. The difference is easy to miss because Meaden joined the programme early and remained a major presence for many years.
Elnaugh's tenure also connects Dragon's Den with a notable business story outside the studio: Red Letter Days experienced financial difficulties and was subsequently bought by Theo Paphitis and Peter Jones. Her place in the show's history is therefore significant both as a panel milestone and through her association with a well-known entrepreneurial brand.