Rachel Elnaugh became the first female regular Dragon when she joined the British panel in 2005.
Elnaugh is an entrepreneur best known for founding Red Letter Days, a company selling experience gifts. She was part of the original regular panel when the British programme launched, making her the first woman to hold a regular Dragon role in the series.
Deborah Meaden later became one of the programme's most familiar female investors, but she was not the first woman on the regular British panel. Sara Davies and Kelly Hoppen joined in still later periods. This is a common chronology mix-up because Meaden's long tenure made her especially prominent in public memory.
Elnaugh's business story also became part of the programme's wider discussion of entrepreneurial risk. Red Letter Days entered administration in 2005, after which it was acquired by Theo Paphitis. The company later continued under new ownership.