Who was the first female dragon on the original UK panel of Dragon's Den?

Rachel Elnaugh was the first female dragon on the original UK panel of Dragon's Den.

Elnaugh was one of the five investors who formed the programme's first British panel in 2005. She was known for founding Red Letter Days, a company selling experience gifts such as driving experiences, spa visits and other leisure activities.

The original panel consisted of Elnaugh, Duncan Bannatyne, Peter Jones, Theo Paphitis and Doug Richard. Elnaugh appeared in the first two series before leaving the programme. Deborah Meaden later became one of the show's best-known female investors, but she was not the first woman to serve as a UK dragon.

This distinction concerns the original panel rather than the first woman ever to appear in an international version. It is also separate from the question of which female dragon has appeared for the longest period, since later cast members had much longer tenures.