Enables heterocyclic compound binding activity. Contributes to several functions, including CAAX-protein geranylgeranyltransferase activity; peptide binding activity; and zinc ion binding activity. Involved in several processes, including negative regulation of nitric-oxide synthase biosynthetic process; positive regulation of cell population proliferation; and protein geranylgeranylation. Part of CAAX-protein geranylgeranyltransferase complex. Orthologous to human PGGT1B (protein geranylgeranyltransferase type I subunit beta). [provided by Alliance of Genome Resources, Apr 2022]