Who was the first female Dragon on the original British version of Dragon's Den?

Rachel Elnaugh was the first female Dragon on the original British version of Dragon's Den.

Elnaugh appeared as one of the investors in the programme's earliest series. She was known as an entrepreneur and businesswoman, having co-founded the gift business Red Letter Days before joining the BBC programme.

Deborah Meaden later became one of the show's best-known female investors, while Kelly Hoppen and Sara Davies also joined in subsequent eras. Those later appearances can cause viewers to misremember which woman appeared first.

Elnaugh's time on the panel belongs to the formative period of the British series. Her business background made her part of the original model in which entrepreneurs faced a panel of investors with different commercial interests and negotiating styles.