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:15294809). Controls the expression of the aflatoxin gene cluster (PubMed:15294809, PubMed:19889978). Required for the expression of aflR and aflJ (PubMed:15294809). Mediates the coordination of aflatoxigenic vesicles (aflatoxisomes) development with aflatoxin gene expression (PubMed:19889978). Regulates branched chain amino acid and ethanol metabolism and acts as a positive regulator of mitochondrial and peroxisomal beta-oxidation (PubMed:20735852). 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). Blocks sclerotial formation, reduces conidiation both on the culture medium and on peanut seeds, and abolishes production of the visible orange aflatoxin intermediate versicolorin A (PubMed:15294809). Fails to accumulate aflatoxisomes under aflatoxin-inducing conditions in the dark (PubMed:19889978). Enhances accumulation of metabolites in branched chain amino acid catabolism and increases ethanol production (PubMed:20735852). Belongs to the velvet family. VeA subfamily.