I am not sure if VEGA was chipset or a card name, I think it was a little of both, but most of all just a catchy acronym Video7 marketing came with (it's not just VGA, it's VEGA!) Made by Cirrus Logic? Not surprising, it was a major OEM those days. Apparently, VEGA name caught some attention in the UK, if the card was referred by name. Interestingly, Western Digital video cards were never referred to as WD -- they were always Paradise cards. So is that chipset name, card name, or just a brand? Speaking of brands, I am not sure the company was called Video7...
VESA existed in some form in 89 or early 90 -- IIRC, Ferraro's "Programming VGA and SVGA" (late 1989) mentions it briefly but does not go into any technical details. 4/89 probably refers to the date when VESA group was found, the standard took a couple years to propagate.
I see HunterZ voting for Paradise. I would vote for that one as well. Any more votes?