Catalyzes the conversion of fatty acids such as long chain and very long-chain fatty acids to their active form acyl-CoAs for both synthesis of cellular lipids, and degradation via beta-oxidation. Can activate diverse saturated, monosaturated and polyunsaturated fatty acids (PubMed:16371355, PubMed:16762313). Has increased ability to activate oleic and linoleic acid (PubMed:16371355). May play a role in spermatogenesis (PubMed:15685348). {ECO:0000269|PubMed:15685348, ECO:0000269|PubMed:16371355, ECO:0000269|PubMed:16762313}. This is the function of ACSBG2 (acyl-CoA synthetase bubblegum family member 2, ENSG00000130377).