What was the surname of Dragon's Den investor Rachel, who was part of the original panel?

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The original Dragon's Den investor named Rachel had the surname Elnaugh.

Rachel Elnaugh was one of the five investors on the original UK Dragon's Den panel when the BBC series launched in 2005. She was an entrepreneur associated with the Red Letter Days experience-gift company and brought expertise in consumer services and business growth to the programme.

Elnaugh's appearance belongs to the show's first-era lineup, alongside Peter Jones, Duncan Bannatyne, Theo Paphitis and Doug Richard. She later left the panel, and the cast evolved as the BBC introduced other investors. This makes her name less familiar to some newer viewers, even though she was part of the programme's defining original group.

Her surname is particularly easy to misspell because the “-augh” ending is uncommon in English names. The correct spelling is Elnaugh, with an “n” before the final “augh.” She should not be confused with Rachel Watkyn, another entrepreneur associated with British business television, or with later female dragons such as Deborah Meaden and Kelly Hoppen.

Source: Wikipedia · fact-checked Oct. 2026

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