Advice on joining first-time GP prior to fundraising

Hello!

I will appreciate recommendations on an ideal compensation structure (not absolute base pay) for an Associate/Senior Associate role with a first-time Sub-Saharan African GP that only started fundraising. 

The firm's looking to keep costs low and prefers to mostly defer cash payment and/or accept significant non-cash compensation. It's quite early within the firm so it's a bit of an open cheque. Just the Partners and I so I have some leverage since I will do most of the dirty work.

I know that the base pay do not compare across regions. Rather particularly interested in an overall compensation structure that could apply here e.g base pay + carry + say variable pay (due upon closing) or whatever else could work in this context etc

Thank you