Jay-Z and Meek Mill
Meek Mill and Jay-Z have formed Dream Catchers Records. Shawn "Jay-Z" Carter (L) and Meek Mill attend the launch of The Reform Alliance at John Jay College on January 23, 2019 in New York City. Getty Images/Kevin Mazur

Rappers Meek Mill and Jay-Z have teamed up to create the new record label, Dream Chasers Records. The new label was launched in cooperation with Jay-Z’s Roc Nation.

The rap team introduced Dream Chasers on Tuesday with a celebration at Roc Nation’s headquarters in New York City. Meek Mill and Jay-Z signed contracts during a press conference and popped champagne to honor the new venture, The Blast reported.

Mill will reportedly serve as president of the new Dream Chasers label.

“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 during the press conference.

“We’re ready to work. We’re just starting the beginning of a new chapter, a new page,” he added.

The partnership between Mills and Jay-Z was built off the bond the two rappers shared over music, which they are now looking to bring to new artists.

“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,” Jay-Z said during the event.