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Transcriptional activator. Binds to the DNA sequence 5'-AACAAT-3' (By similarity). All of the sox17 proteins are required for embryonic endoderm development and gastrulation movements, and show some redundancy in function. In addition, the sox17 proteins have distinct but overlapping roles in later gut development. Acts downstream of vegt-signaling in endoderm differentiation to induce a range of endodermal genes both directly (including endodermin and dhh/chh) and indirectly. Also represses wnt-responsive genes to inhibit wnt/beta-catenin signaling.