Recognizes and binds the 7-methylguanosine-containing mRNA cap during an early step in the initiation of protein synthesis and facilitates ribosome binding by inducing the unwinding of the mRNAs secondary structures. Component of the eIF4F complex, which composition varies with external and internal environmental conditions. It is composed of at least eIF4A (TIF1/TIF2), eIF4E (TIF45) and eIF4G (TIF4631 or TIF4632) (By similarity). Interacts with PAT1 in a RNA-dependent manner. eIF4E is also known to interact with other partners. Present with 14200 molecules/cell in log phase SD medium. Belongs to the eukaryotic initiation factor 4E family.