Which Dragon's Den investor became the first woman to appear on the UK panel?

Rachel Elnaugh was the first woman to appear on the UK Dragon's Den panel.

Elnaugh was part of the original investor line-up when the British programme began in 2005. She was known for founding Red Letter Days, a company selling experience gifts, before joining the television panel.

Her presence meant that the original UK version did not begin with an all-male group of investors. She left after the first series, and Deborah Meaden later became the show's longest-serving female Dragon.

The wording matters because “first woman on the panel” refers to the programme's UK investor line-up, not to the first female Dragon in every international adaptation. Hilary Devey and Kelly Hoppen joined the British show years after Elnaugh's original appearance.