Meek Mill is in a Jay-Z state of mind: The Philadelphia rapper-turned-entrepreneur is launching a new record label in a joint venture with Jay-Z’s Roc Nation.

The hip-hop players celebrated the launch of Dream Chasers Records Tuesday at the Roc Nation headquarters in New York, signing contracts at a small news conference and popping champagne to celebrate the partnership. Mill, 32, will lead Dream Chasers as president, overseeing the label and its staff.

Mill built a strong fan base and buzz in Philadelphia with a string of mixtapes, and reached the mainstream when he topped the charts with his major-label debut in 2012. He’s released two platinum albums and two gold records and reached the Top 25 of the pop charts.

Jay-Z, hip-hop’s ultimate businessman, said he and Mill not only bonded musically, but in other areas.

‘‘His integrity, his honesty, his sense of responsibility,’’ Jay-Z said about Mill. ‘‘Everything that he’s done leading up to this point, it showed that he can carry that weight for the next generation of people.’’

Jay-Z, Mill, and others joined forces earlier this year to form a coalition that lobbies for changes to state probation and parole laws, called the Reform Alliance. Mill became a symbol for criminal justice reform activists after a judge in Pennsylvania sentenced him to two to four years in prison for minor violations of his probation conditions in a decade-old gun and drug possession case. He spent months in prison before a court ordered him released. Patriots owner Robert Kraft visited the artist in jail and became an advocate on his behalf.

ASSOCIATED PRESS