Who was the first female Dragon on the BBC's Dragon's Den?

Rachel Elnaugh was the first female Dragon on the BBC's Dragon's Den.

Elnaugh appeared on the original investor panel when the BBC launched the programme in 2005. She was known as the founder of Red Letter Days, a company selling experience gifts such as driving experiences, short breaks, and leisure activities. Her presence made her one of the programme's earliest prominent female investors.

Rachel Elnaugh is sometimes confused with Deborah Meaden because Meaden became one of the show's best-known long-term Dragons. Meaden joined the panel later, in the third series, while Elnaugh belonged to the original line-up. Elnaugh left the programme after its second series.

Her business career also illustrates why the programme selected investors from different sectors. Red Letter Days grew rapidly but later encountered financial difficulties and entered administration in 2005. The company and brand were subsequently acquired by Dragons' Den investor Peter Jones, a separate event from Elnaugh's role on the original panel.