Titled The Bureau, the imprint will release his own music as well as that of "the next big new sexy thing" and will issue records by artists including Jeremy Dubs and former Captain Beefheart member Eric Drew Feldman.
The label, however, is not expected to release any Pixies material.
Dubs' record is set for release on Monday November 18 and next year the label will release an 11-year-old bootleg by Frank Black and the Catholics.
Black said that running a label in 2011 was no different to running one at any other time, adding there was simply less money. "It just puts the pressure on everybody to be good," he added.