Enables several functions, including heparan sulfate proteoglycan binding activity; lipase activity; and lipoprotein particle binding activity. Involved in several processes, including glycerolipid metabolic process; low-density lipoprotein particle clearance; and plasma lipoprotein particle remodeling. Located in several cellular components, including cell surface; endosome; and microvillus. Used to study several diseases, including end stage renal disease; hepatitis; hyperinsulinism; obesity; and protein-energy malnutrition. Biomarker of ischemia. Human ortholog(s) of this gene implicated in several diseases, including Alzheimer's disease; coronary artery disease; familial combined hyperlipidemia; peripheral vascular disease; and type 2 diabetes mellitus. Orthologous to human LIPC (lipase C, hepatic type). [provided by Alliance of Genome Resources, Apr 2022]