Which Dragon's Den investor founded Red Letter Days?

Rachel Elnaugh founded the experience-gift company Red Letter Days before becoming a Dragon on the UK series.

Red Letter Days sold vouchers for memorable experiences, such as driving, flying and leisure activities. Elnaugh built the company into a prominent British gift business and later brought her entrepreneurial experience to the original Dragon's Den panel.

The company encountered financial difficulties and entered administration in 2005. Businessman Peter Jones subsequently acquired the assets and brand, a development that is frequently mentioned in accounts of Elnaugh's business career and the programme's early history.

This fact is sometimes confused with Peter Jones's involvement with Red Letter Days after its collapse. Jones did not found the company; Elnaugh did. The distinction between founding a business and later acquiring its assets is important when identifying the Dragon associated with the brand.