Multi-millionaire investor Duncan Bannatyne has announced he will leave the popular BBC TV show Dragons’ Den, with the upcoming series of the show being his last.

The move, which Mr Bannatyne announced on Twitter, leaves Peter Jones as the last remaining original cast member.

The first five to take part in the show included Californian tech entrepreneur Doug Richard, Red Letter Days founder Rachel Elnaugh and Simon Woodroffe, creator of Yo! Sushi.

On his Twitter account, Mr Bannatyne said: "After the last filming block of Dragons' Den I realised my heart was not in making investments anymore. My time is too precious.

"So I told the producers I wanted to leave and this gives them a year to find a replacement. I am sure they will find a great new young Dragon."

Mark Linsey, BBC controller for entertainment commissioning, said: "Duncan has been the most formidable Dragon and we are going to miss him enormously.

"He has inspired many entrepreneurs to come on the show and helped make Dragons' Den a huge success for BBC Two."

Mr Bannatyne has invested nearly £2 million through the show. The new series of Dragons’ Den begins on 20 July.