diff --git a/docs/changelog.rst b/docs/changelog.rst
index ed6a29a..ca8c1e7 100644
--- a/docs/changelog.rst
+++ b/docs/changelog.rst
@@ -1,6 +1,21 @@
 Changes in jupyter-core
 =======================
 
+5.0
+---
+
+5.0.0rc0
+~~~~~~~~
+
+`on
+GitHub <https://github.com/jupyter/jupyter_core/releases/tag/5.0.0rc0>`__
+
+* Try to detect if we are in a virtual environment and change path precedence accordingly. (:ghpull:`286`)
+* Update broken link to `Contributing` guide. (:ghpull:`289`)
+* Add current working directory as first config path. (:ghpull:`291`)
+* Use platformdirs for path locations. (:ghpull:`292`)
+
+
 4.11
 ----
 
diff --git a/jupyter_core/version.py b/jupyter_core/version.py
index 8e00452..af0c59d 100644
--- a/jupyter_core/version.py
+++ b/jupyter_core/version.py
@@ -5,8 +5,8 @@
 
 VersionInfo = namedtuple("VersionInfo", ["major", "minor", "micro", "releaselevel", "serial"])
 
-version_info = VersionInfo(4, 11, 1, "final", 0)
-__version__ = "4.11.1"
+version_info = VersionInfo(5, 0, 0, "rc", 0)
+__version__ = "5.0.0rc0"
 
 _specifier_ = {"alpha": "a", "beta": "b", "candidate": "rc", "final": "", "dev": "dev"}