Hilary Devey has died at the age of 65 after what has been described as a "long illness".
The Leeds-based entrepreneur appeared on two series of Dragons' Den in 2011 and 2012, before moving to Channel 4 to appear in a programme called The Intern.
News of her death was confirmed by her agent Benjamin Webb, who said that she died at her home in Morocco on Saturday night.
Duncan Bannatyne, who appeared with Devey on Dragons' Den, tweeted: "Sad to hear that @HilaryDevey has passed. So young. Too young. Rest in Peace Hilary. X"
Fellow-co-star Theo Paphitis wrote: "So sad to hear of the passing of the lovely Hilary Devey. She left us all with some fantastic memories, may she rest in peace. My thoughts are with her family. x"
Kate Phillips, the BBC's director of unscripted content, said in a statement: "When Hilary entered the Den in 2011 she was formidable, fiery and completely unforgettable.
"A tough talking Dragon who never minced her words, she also always saw the person behind the product and was such an encouraging mentor and investor to so many entrepreneurs.
"A hugely successful businesswoman and television expert, she will be missed by all who knew her and benefited from her wise words and experience."
Devey is survived by her son Mevlit.
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