In the British version of Dragons' Den, each panel investor is called a dragon.
The term comes directly from the programme's title and describes the wealthy businesspeople who listen to pitches, question entrepreneurs and decide whether to offer money for an ownership stake. A presenter introduces the contestants, but the dragons make the investment decisions.
The name is a distinctive feature of the British and many other international versions of the format. In the United States adaptation, the equivalent investors are called sharks, which is why the two programmes are sometimes discussed together.
A dragon's offer is not automatically a completed investment. Deals agreed in the studio can still be subject to due diligence and contract negotiations after filming, so the televised handshake is not always the final outcome.