Caffeoylpyruvate hydrolase; part of the gene cluster that mediates the fungal bioluminescence cycle (PubMed:30478037, PubMed:28508049). Involved in the recycling of oxyluciferin, a pyruvic acid adduct of caffeic acid, to caffeic acid (PubMed:30478037, PubMed:28508049). The fungal bioluminescence cycle begins with the hispidin synthetase that catalyzes the formation of hispidin which is further hydroxylated by the hispidin-3-hydroxylase, yielding the fungal luciferin 3-hydroxyhispidin. The luciferase then produces an endoperoxide as a high-energy intermediate with decomposition that yields oxyluciferin (also known as caffeoylpyruvate) and light emission. Oxyluciferin can be recycled to caffeic acid by caffeoylpyruvate hydrolase (PubMed:30478037) (Probable). (E)-caffeoylpyruvate + H2O = (E)-caffeate + H(+) + pyruvate Secondary metabolite biosynthesis. Homodimer. The availability of a complete eukaryotic luciferin biosynthesis pathway provides several applications in biomedicine and bioengineering. Belongs to the FAH family.