Which Dragon's Den investor was the first woman to join the show's regular panel?

Rachel Elnaugh was the first woman to join Dragon's Den's regular panel.

Elnaugh was an entrepreneur who founded Red Letter Days, a company selling experience gifts such as activities and leisure packages. She joined the original British Dragons and became the programme’s first regular female investor, bringing experience from the experience-gift and direct-marketing sectors.

Her tenure was brief compared with some later Dragons. Elnaugh left the panel after the second series, and Deborah Meaden subsequently became the show’s prominent female Dragon. That change sometimes leads viewers to remember Meaden as the first woman, but Elnaugh held that distinction.

Red Letter Days later encountered financial difficulty and was sold. The business was subsequently acquired by Peter Jones, creating another connection between Elnaugh’s entrepreneurial story and the show’s investment panel.