Rachel Elnaugh was the first female Dragon on the original panel of the British television show Dragon's Den.
Elnaugh was an entrepreneur best known for founding Red Letter Days, a company selling experience gifts. She appeared in the first series of the British programme, which began in 2005, alongside the original male Dragons Duncan Bannatyne, Peter Jones, Simon Woodroffe and Theo Paphitis.
A common mix-up is to name Deborah Meaden, because Meaden became one of the programme's most recognisable female investors after joining the show in its third series. Elnaugh's place in the programme's history is earlier: she was part of the inaugural panel.
Red Letter Days later encountered financial difficulties, and Elnaugh left the panel after the first series. Her appearance nevertheless established the first female investor role in the British version.