Maybach Music Group’s Meek Mill and JAY-Z just took their professional relationship up a few notches. The hip-hop powerhouses have joined forces for a joint venture.

Meek Mill went to Instagram Wednesday to announce his Dream Chasers Records is now officially with Young Hov’s Roc Nation.

According to reports, Meek and JAY made things official Tuesday at Roc Nation headquarters in New York City.

Holding the title of president of Dream Chasers, a joint venture with Roc Nation, Meek will oversee the label and build a staff to sign and develop artists. The label will also handle its own operations, creative strategy, marketing and business affairs. Meek is also planning to open a recording studio for use by the label’s artists. Said Jay-Z, whose 11-year-old Roc Nation has had Meek as a management client: “Everything he has done leading up to this point shows he is ready to [lead] the next generation. We look at the big picture — this is way beyond signing artists and having hot records.” (Variety)

Back in 2012, Meek officially joined forces with Roc Nation to handle his management.

Meek Mill celebrated his 25th birthday this week, dropped his new Dreamchasers 2 mixtape and add to the list a new management deal with Roc Nation. The MMG rapper revealed the news during an interview with Jay-Z’s Life+Times site. “That’s the new deal I put together,” Meek said. “Me coming up in this rap game, I was always an underground artist coming up by myself and making all of the moves by myself. And my manager – he’s just like me, we’ve been coming up in the streets by ourselves. So we just decided to partner up with Roc Nation and take things to another level.” (MTV)