Rachel Elnaugh became the first woman to serve as a Dragon on the original British Dragon's Den panel.
Elnaugh was an entrepreneur associated with the Red Letter Days experience-gift business. She appeared as one of the original investors when the British version of Dragon's Den launched in 2005, alongside Peter Jones, Duncan Bannatyne, Theo Paphitis and Doug Richard.
Her tenure is often mixed up with Deborah Meaden's better-known long-running role. Meaden joined the programme after Elnaugh, while Kelly Hoppen and Sara Davies arrived still later. Elnaugh's presence is significant because she was part of the show's initial investor lineup and helped establish the idea of a female business leader judging pitches in the British format.
Red Letter Days later encountered financial difficulties and was sold, a business episode that is frequently mentioned in biographies of Elnaugh. The television role and the later company history should not be treated as the same event.