ENTREPRENEUR and venture capitalist James Caan is the latest business figure to enter the Dragon's Den.

Caan replaces Australian Richard Farleigh, who was removed from the line-up of the hit BBC2 business ideas show last month.

Caan joins North-East businessman Duncan Bannatyne, Peter Jones, Deborah Meaden and Theo Paphitis. in the fifth series, to be broadcast this autumn.

Caan, 46, is founder and chief executive of a private equity firm which invests in retail, leisure, financial services and technology.

Caan said: ''I'm thrilled to be invited to be in one of the highly coveted Dragon positions.

''In business, I make a point of investing in people, as I'm a great believer that it is people who create a success in business through their passion and conviction.''

Caan achieved a turnover of £130m with the Alexander Mann Group before selling the outsourcing company in 2002.

The show sees potential entrepreneurs pitching their business idea to the panel of five "Dragons," who then decide whether to invest in them.