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 (PubMed:8663200). In 0-1 hour embryos, forms a complex with me31B, cup, tral and pAbp which binds to various mRNAs including maternal mRNAs, and down-regulates their expression during the maternal-to-zygotic transition (PubMed:28875934). eIF4F is a multi-subunit complex, the composition of which varies with external and internal environmental conditions. It is composed of at least eIF4A, eIF4E1 and eIF4G1 (PubMed:25702871). Recruited by cup in oocytes and in early embryos, preventing the interaction with eIF4G (PubMed:14691132, PubMed:14723848, PubMed:14685270, PubMed:26294658, PubMed:22832024). The interaction with cup therefore prevents the translation of key transcripts such as oskar (osk) and nanos (nos) in some regions in the early embryo (PubMed:14691132, PubMed:14723848, PubMed:14685270, PubMed:26294658, PubMed:22832024). Interacts with mxt (PubMed:23716590, PubMed:26294658). Interacts with 4E-T and Thor (PubMed:11389445, PubMed:14645523, PubMed:26294658, PubMed:25702871). Forms a RNP containing at least me31B, eIF4E1, cup, tral and pAbp; this interaction is required for the translational silencing of maternal mRNAs during the maternal-to-zygotic transition (PubMed:28875934). Expressed at the posterior end of developing oocytes (at protein level) (PubMed:20869429). Preferential expression in the pole cells, at different developmental stages (PubMed:9065696). High levels of expression in early embryos, with levels decreasing slightly over the first 5 hours of embryogenesis (at protein level) (PubMed:28875934). Throughout development (PubMed:7742371, PubMed:9065696). Phosphorylation increases the ability of the protein to bind to mRNA caps and to form the eIF4F complex. Belongs to the eukaryotic initiation factor 4E family.