diff --git a/sdk/eventgrid/Azure.Messaging.EventGrid/CHANGELOG.md b/sdk/eventgrid/Azure.Messaging.EventGrid/CHANGELOG.md
index a58a3538399d..2a241d970e45 100644
--- a/sdk/eventgrid/Azure.Messaging.EventGrid/CHANGELOG.md
+++ b/sdk/eventgrid/Azure.Messaging.EventGrid/CHANGELOG.md
@@ -1,5 +1,15 @@
 # Release History
 
+## 4.29.0-beta.1 (Unreleased)
+
+### Features Added
+
+### Breaking Changes
+
+### Bugs Fixed
+
+### Other Changes
+
 ## 4.28.0 (2024-11-18)
 
 ### Features Added
diff --git a/sdk/eventgrid/Azure.Messaging.EventGrid/src/Azure.Messaging.EventGrid.csproj b/sdk/eventgrid/Azure.Messaging.EventGrid/src/Azure.Messaging.EventGrid.csproj
index 8aef18eb0710..b30a307a6852 100644
--- a/sdk/eventgrid/Azure.Messaging.EventGrid/src/Azure.Messaging.EventGrid.csproj
+++ b/sdk/eventgrid/Azure.Messaging.EventGrid/src/Azure.Messaging.EventGrid.csproj
@@ -2,9 +2,9 @@
   <PropertyGroup>
     <Description>This library can be used to publish events to Azure Event Grid and to consume events delivered by EventGrid. It also defines the event schemas for the events published to EventGrid by various Azure services.</Description>
     <AssemblyTitle>Microsoft Azure.Messaging.EventGrid client library</AssemblyTitle>
-    <Version>4.28.0</Version>
+    <Version>4.29.0-beta.1</Version>
     <!--The ApiCompatVersion is managed automatically and should not generally be modified manually.-->
-    <ApiCompatVersion>4.27.0</ApiCompatVersion>
+    <ApiCompatVersion>4.28.0</ApiCompatVersion>
     <PackageTags>Microsoft Azure EventGrid;Event Grid;Event Grid Publishing;</PackageTags>
     <DisableEnhancedAnalysis>true</DisableEnhancedAnalysis>
     <TargetFrameworks>$(RequiredTargetFrameworks)</TargetFrameworks>