Rachel Elnaugh was the only woman on the original investor panel of the British programme Dragons' Den.
The first panel combined Elnaugh with Peter Jones, Duncan Bannatyne, Theo Paphitis, and either or both of the other early investors associated with the launch-era line-up, depending on the episode and series arrangement. Elnaugh was known for her business experience and became one of the programme’s original “dragons.”
She was the founder of Red Letter Days, a company selling experience gifts. That background made her particularly associated with consumer businesses, retail, and gift experiences during her appearances on the programme.
Deborah Meaden is a common alternative answer because she later became one of the show’s best-known female investors. She joined after the original launch panel, while Elnaugh belongs to the programme’s initial era. Other later female investors, including Kelly Hoppen and Sara Davies, also appeared in subsequent series.