Rachel Elnaugh was the original female investor who appeared on the first series of the British show Dragon's Den.
Elnaugh was part of the initial Dragon's Den panel when the British programme launched in 2005. Her entrepreneurial background came from Red Letter Days, the experience-gift company she founded before becoming a television investor.
The investor line-up changed over time, which can make early-series questions difficult. Deborah Meaden joined later, while Kelly Hoppen became a Dragon much later still. Those investors are strongly associated with the programme but were not members of its first panel.
Elnaugh's appearance also gave the original series a female business perspective alongside the male investors. Her tenure was comparatively brief, and she is now often remembered through the Red Letter Days story as well as through her Dragon's Den appearances.