Theo Paphitis replaced Simon Woodroffe on the Dragon's Den panel in the show's second series.
Simon Woodroffe, the founder of the YO! brand, was one of the investors in the first British series. He did not continue as a regular investor, and retail entrepreneur Theo Paphitis joined the panel for series two. Paphitis subsequently became one of the programme's most recognisable Dragons.
The panel has changed repeatedly over the show's history, which can make early-series line-ups easy to confuse. Theo Paphitis should not be confused with James Caan, who joined later, or Nick Jenkins, who appeared much later in the programme's run.
Paphitis is known in British business for his retail interests, including Ryman and Robert Dyas. His direct, commercially focused questioning became a notable feature of his appearances on the show, alongside his interest in brands and retail businesses.