Component of the velvet transcription factor complex that controls sexual/asexual developmental ratio in response to light, promoting sexual development in the darkness while stimulating asexual sporulation under illumination (By similarity). The velvet complex hat acts as a global regulator for secondary metabolite gene expression (PubMed:16988822, PubMed:26209694). Controls the expression of the cyclopiazonic acid, aflatrem, and aflatoxin gene clusters (PubMed:16988822, PubMed:17646985). Controls the expression of the sclerotium-specific pigment asparasone A gene cluster (PubMed:16988822, PubMed:17646985). Controls the expression of the aflavarin gene cluster (PubMed:26209694). controls also the production of hydrolases and other extracellular proteins during growth on natural starch-based substrates (PubMed:24584515). Regulates genes involved in the High Osmolarity Glycerol (HOG) signaling pathway (PubMed:24951443). Required for the conidial and sclerotial density-dependent production (PubMed:23994319, PubMed:24412484). Component of the heterotrimeric velvet complex composed of laeA, veA and velB; VeA acting as a bridging protein between laeA and velB (PubMed:23994319). Enriched in the nucleus in the dark (By similarity). Expression is positively regulated by laeA (PubMed:18667168). The C-terminal PEST domain is a region rich in proline, glutamic acid, serine and threonine residues that is required for the light-dependent regulation of development and secondary metabolism (By similarity). Impairs expression of aflR and sclerotia production (PubMed:19411623, PubMed:23994319). Unables metabolization of host cell lipid reserves and is inhibited by oleic acid in growth assays (PubMed:19411623). Blocks the production of aflatrem and aflatoxin; and strongly decreases cyclopiazonic acid production (PubMed:16988822, PubMed:17646985). Down-regulates transcription of ps27, a polyketide synthase gene belonging to the asparasone A gene cluster (PubMed:24412484). Down-regulates five genes found within the aflavarin cluster (PubMed:26209694). Results in a reduction in transcription levels of oxidative stress response genes after exposure to hydrogen peroxide (PubMed:24951443). Alters the starch-degradation profile (PubMed:24584515). Belongs to the velvet family. VeA subfamily.