Rachel Elnaugh was the first woman to become a regular Dragon on the British series Dragon's Den. She joined the original investor line-up when the programme launched in 2005.
Elnaugh was an entrepreneur associated with Red Letter Days, a company selling experience gifts. Her business career made her a natural fit for the programme's investor panel, where entrepreneurs present companies and negotiate for funding in exchange for equity.
Deborah Meaden, Sara Davies and Kelly Hoppen are all women who later appeared as Dragons, but none was the first regular female Dragon. The distinction refers to the British television series and its regular panel rather than to every female guest or investor associated with international versions of the format. Elnaugh left after the early series, while the programme continued with several different investor combinations.