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 (By similarity). Controls the expression of hundreds of genes, including those comprising more than a dozen known secondary metabolite gene clusters (PubMed:24116213). Controls the expression of the gliotoxin gene cluster (PubMed:23087369). Controls the expression of the fumagillin, fumitremorgin G, fumigaclavine C and glionitrin gene clusters (PubMed:24116213). The regulation of the fumagillin gene cluster and fumagillin production is performed through direct control of the expression of fumR (PubMed:24116213). Negatively regulates conidiation (PubMed:22970834, PubMed:23087369). Required for normal protease activity (PubMed:23087369). Component of the heterotrimeric velvet complex composed of laeA, veA and velB; VeA acting as a bridging protein between laeA and velB (By similarity). Enriched in the nucleus in the dark (By similarity). 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). Reduces sporulation capacities on nitrate-containing medium (PubMed:16002655). Results in the abundant formation of conidiophores (PubMed:22970834). Leads to a reduction of gliotoxin production (PubMed:23087369). Decreases the production of fumagillin, fumitremorgin G, fumigaclavine C and Glionitrin A (PubMed:24116213). Reduces also protease activity (PubMed:23087369). Belongs to the velvet family. VeA subfamily.