Which investor was the first female Dragon on the main British Dragon's Den panel?

Rachel Elnaugh was the first female Dragon on the main British Dragon's Den panel.

Elnaugh joined the original investor line-up when the programme launched in 2005. She was known as an entrepreneur and businesswoman, particularly for founding the gift company Red Letter Days. Her experience gave the panel a perspective rooted in building and selling a consumer business.

She appeared in the first two series before leaving the regular line-up. Deborah Meaden later became one of the programme's most recognisable investors, but she was not the first woman to sit on the main British panel. That distinction belongs to Elnaugh.

The show’s investors are often called Dragons because they are expected to scrutinise entrepreneurs closely before offering capital. A panel member can offer money, negotiate alone or with another Dragon, or decline to invest altogether.