Rachel Elnaugh became known as the first female dragon on the British programme Dragons' Den.
Elnaugh was one of the original investors when the British series began in 2005. She was a businesswoman and the founder of Red Letter Days, a company selling experience gifts. Her presence made her the first woman to sit on the original British Dragons' Den investment panel.
The wording refers to the original British programme, not to every international version or every later female investor. Deborah Meaden joined the panel after the first series, while other women, including Kelly Hoppen and Sara Davies, appeared in later periods. Those later appearances do not change Elnaugh's place as the first female dragon in the British edition.
Elnaugh left the regular panel after the early series. Her business and television career are sometimes discussed together, but the founding of Red Letter Days is a separate fact from her status as the programme's first female investor. The distinction helps avoid confusing the first female dragon with the longest-serving or most frequently appearing one.