The advent of 2D materials integration has enabled novel heterojunctions where carrier transport proceeds thrsough different ultrathin layers. We here demonstrate the potential of such heterojunctions on a graphene/dielectric/semiconductor vertical stack that combines several enabling features for optoelectronic devices. Efficient and stable light emission was achieved through carrier tunneling from the graphene injector into prominent states of a luminescent material. Graphene's unique properties enable fine control of the band alignment in the heterojunction. This advantage was used to produce vertical tunneling-injection light-emitting transistors (VtiLET) where gating allows adjustment of the light emission intensity independent of applied bias. This device was shown to simultaneously act as a light detecting transistor with a linear and gate tunable sensitivity. The presented development of an electronically controllable multifunctional light emitter, light detector and transistor open up a new route for future optoelectronics.