The 41-year-old singer set up Future Records in 2009, but the father-of-three has decided to step away from the company to spend more time with his loved ones, reported Daily Express.
"It's been a very difficult decision but it came down to time. I've had a lot going on recently and I want to spend more time with my family," he said.
Artists signed to the label are set to be re-housed within parent company Universal.
