Enables phospholipase A2 activity and signaling receptor binding activity. Predicted to be involved in several processes, including defense response to other organism; glycerophospholipid metabolic process; and positive regulation of glomerular visceral epithelial cell apoptotic process. Predicted to act upstream of or within phospholipid catabolic process. Located in extracellular region. Is expressed in liver; lung; and spleen. Orthologous to human PLA2G1B (phospholipase A2 group IB). [provided by Alliance of Genome Resources, Apr 2022]