Which Dragon's Den investor became the first female Dragon to appear on the programme?

Rachel Elnaugh became the first female Dragon to appear on the British Dragon's Den programme.

Elnaugh was part of the original investor line-up when the British series launched in 2005. She was known for building Red Letter Days, a company selling experience gifts such as driving, leisure and entertainment packages. Her business story gave the opening panel a female entrepreneur with experience in creating a consumer brand.

Elnaugh appeared in the first two series and was then replaced by Deborah Meaden. Because Meaden became the programme's most enduring female investor, viewers sometimes incorrectly remember her as the first woman on the panel. Elnaugh holds that earlier distinction.

Being the first female Dragon refers to the British television series, not the entire international franchise. Other countries have their own versions, casting histories and female investors, so the date and programme context matter.