C V A
I'd say viewed in that order,,
C is overlapped at multiple points by both the V and A
Then as reading left to right,,the V is shown prominent (left side of the letter), then the A (right side of the letter).

The arguement for a monogram of 'cAv' can also be given. But as the 'A' isn't that prominent/bold as a last name initial centered should be IMHO, it's appearence of being a touch larger than the V helps the point. But it's not enough to go that direction I don't think.

JMHO.