Steers – who was named as one the most influential women in finance by FN earlier this year – will be the first investor to take the role at the British Private Equity and Venture Capital Association.
The appointment is part of a move by the BVCA to broaden its membership beyond private equity and venture capital fund managers and their advisers, according to a statement.
She will replace outgoing chair Alan MacKay, executive partner and founder of healthcare-focused investment firm GHO Capital.
Steers will take up the role in April 2017 and brings with her 27 years of experience working in the private equity industry.
Alongside her work at Pantheon, Steers is also a co-founder of Level 20, a non-profit making organisation set up to encourage women to increase the number of women working in the private equity industry.