Who was the first female investor to appear on the UK television show Dragons' Den?

Rachel Elnaugh was the first female investor to appear on the UK television show Dragons' Den.

Elnaugh was part of the original Dragons' Den panel when the British version premiered in 2005. She was known for founding Red Letter Days, a company selling experience gifts, and her business background made her one of the programme's initial investor figures.

Deborah Meaden is sometimes mistaken for the first female Dragon because she became the show's most enduring female panel member after joining in series 3. However, Elnaugh appeared before Meaden, in the opening series and the second series.

The original panel also included Peter Jones, Duncan Bannatyne, Doug Richard and Simon Woodroffe. Elnaugh later left the programme, while Meaden went on to become a long-running member of the panel. The distinction concerns the UK television version, not the international Dragon's Den franchise.