After four series, James Caan has revealed he is to quit his role on BBC2’s entrepreneurial show Dragons’ Den.

Using Twitter to break the news he wrote: “After four fantastic seasons, I have made the decision to step down from the panel of the much loved Dragons’ Den.”

He added that he would be devoting more time to ‘existing investments’ and ‘philanthropic work’.

James first joined the BBC2 show in 2007 alongside fellow dragons Deborah Meaden, Peter Jones, Duncan Bannatyne and Theo Paphitis.

In a statement, he said: “Dragons’ Den has been an integral and exciting part of my professional life and I thank the show profusely for letting me be a part of it for so long. Unfortunately, I’m out!”

Dominic Bird, Dragons’ Den executive editor, told BBC News online: “James has been a fearsome dragon and although we’ll be sorry to see him leave the den, we appreciate he is very busy with his new endeavours.”

As yet, no announcement has bee made on a replacement for the next series, which is due to screen in the summer.