Which Dragon's Den investor was the first woman to become a regular Dragon?

Rachel Elnaugh was the first woman to become a regular Dragon on the British series Dragon's Den.

Elnaugh joined the original investor lineup when the programme launched in 2005. She was a successful entrepreneur best known for co-founding Red Letter Days, a company selling experience gifts such as adventure and leisure activities.

Her tenure on the panel lasted through the first series and part of the second. She was later replaced by Deborah Meaden, who became one of the programme's longest-serving and most recognisable investors.

The distinction is between the first regular female Dragon and later women on the panel. Elnaugh holds the historical first, while Meaden's much longer television presence means viewers sometimes associate the programme's earliest female-investor milestone with Meaden instead.