Enables phospholipase A2 activator activity. Involved in several processes, including negative regulation of protein K63-linked ubiquitination; positive regulation of dendrite extension; and ubiquitin-dependent protein catabolic process via the multivesicular body sorting pathway. Acts upstream of or within inflammatory response. Located in cytoplasm; nucleus; and synapse. Orthologous to human PLAA (phospholipase A2 activating protein). [provided by Alliance of Genome Resources, Apr 2022]