Catalyzes the de novo synthesis of acetyl-CoA in vitro (PubMed:30672040). Promotes acetylation of CTTN, possibly by providing the acetyl donor, ensuring correct dendritic spine morphology and synaptic transmission (PubMed:31600191). Binds to follistatin-related protein FSTL1 and may act as a cell surface receptor for FSTL1, contributing to AKT activation and subsequent FSTL1-induced survival and function of endothelial cells and cardiac myocytes (By similarity). acetate + ATP + CoA = acetyl-CoA + AMP + diphosphate Interacts with FSTL1; DIP2A may act as a cell surface receptor for FSTL1 (PubMed:20054002). Interacts (via N-terminus) with CTTN (via SH3 domain); the interaction promotes acetylation of CTTN and is required for proper synaptic transmission (PubMed:31600191). Interacts with SHANK3 (PubMed:31600191). Detected in heart, liver, spleen, lung, kidney and brain with highest levels in brain (at protein level) (PubMed:30672040). In adult cortex, preferentially expressed in excitatory neurons (PubMed:31600191). Broadly expressed in neuronal, reproductive and vascular tissues as well as in heart, kidney, liver and lung with expression detected in neurons, mesenchyme, endothelium, smooth muscle cells and cardiomyocytes (PubMed:26605542). Expressed in ectoderm-derived tissues in the developing embryo (PubMed:26605542). Expressed in the developing nervous system (PubMed:12137943). In brain, expressed from embryo to adult with a constant increase during postnatal development in the cerebral cortex (at protein level) (PubMed:31600191). Expressed at all stages of embryonic development, including 7 dpc, 11 dpc, 15 dpc and 17 dpc (PubMed:12137943). Higher level of expression is seen at later stages of embryonic development (PubMed:12137943). In 9.5 dpc embryos, expression is diffusely distributed in the regions of the brain, optic vesicles, otic vesicles, cervical and upper thoracic segments of the spinal cord (PubMed:12137943). The expression is more intense in the dorsal portions of the central nervous system (CNS) (PubMed:12137943). In the brain, expression is localized in prosencephalon, mesencephalon and rhombencephalon (PubMed:12137943). In 10.5 embryos, expression area is more restricted, but still within the CNS and the sense organs. The spinal cord expression disappears (PubMed:12137943). Defects in dendritic spine morphogenesis along with thin postsynaptic density and reduced synaptic transmission of pyramidal neurons (PubMed:31600191). Reduced postsynaptic density protein levels of Grin1/Nmdar1, Grin2a/NR2A, Grin2b/NR2B and Gria1/GluR1 (PubMed:31600191). Significantly reduced acetylation of Cttn (PubMed:31600191). Autism-like behaviors including excessive repetitive self-grooming, reduced vocalization time and impaired social interaction (PubMed:31600191). Belongs to the DIP2 family.