Enables 1-phosphatidylinositol-3-kinase regulator activity. Acts upstream of or within insulin receptor signaling pathway. Part of phosphatidylinositol 3-kinase complex. Is expressed in several structures, including alimentary system; brain; early embryo; genitourinary system; and sensory organ. Human ortholog(s) of this gene implicated in colon adenocarcinoma. Orthologous to human PIK3R3 (phosphoinositide-3-kinase regulatory subunit 3). [provided by Alliance of Genome Resources, Apr 2022]