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Meek Mill has officially launched his Dream Chasers record label in partnership with Jay-Z‘s Roc Nation.

The Philadelphia rapper announced the joint venture today during a press conference at Roc Nation’s New York headquarters, Tuesday, July 24.

“Of course I had offers to do a lot of business with other people, but the relationship we’ve built from (Roc Nation) believing in me through my whole career, through my ups and downs and the morals they showed to me and my team when it wasn’t in their best interest to have showed it — I feel comfortable going through this right here at home,” Mill said. “We’re ready to work. We’re just starting the beginning of a new chapter, a new page.”

Signed through Roc Nation management, Mill will serve as Dream Chasers’ president and oversee the label and its staff.

Jay-Z was alongside Meek Mill as they signed contracts and popped champagne to celebrate the partnership, according to Billboard.

 “Everything that he’s done leading up to this point, it showed that he can carry that weight for the next generation of people,” said Hov. “Everybody can sign some artists, make some money and brag about how hot they are for … [but] for us, we look at the big picture. For us, it’s way beyond signing hot artists and having a hot record.”

Meek Mill and Jay-Z worked together earlier this year to launch the organization REFORM Alliance, where they focus on social and racial injustice within the system.

“Hip-hop is 40 years old (and) we’ve just now gotten to the point where we can really affect change and the music and the culture that we create,” said Jay-Z. “We’ve been giving it away for so long, which is understandable, we got to start somewhere. Got to clean the floors up before you own the building — but we don’t shine shoes anymore.”

In November, Meek Mill releases his album Championships with features from Jay-Z, Drake, PnB Rock, Jeremih, and more.

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