Predicted to enable heparin binding activity; lipoprotein lipase activity; and phospholipase activity. Predicted to be involved in fatty acid biosynthetic process and triglyceride catabolic process. Predicted to be located in plasma membrane. Predicted to be active in extracellular space. Is expressed in mandible and maxilla. Orthologous to human LIPI (lipase I). [provided by Alliance of Genome Resources, Apr 2022]