Please read this for more information regarding Decile Launch, including the cost:

https://govclab.com/2023/05/26/meet-decile-launch/

Regarding the 1% carried interest component for the cost of Decile Launch - is it a) 1% of the GP's 20% carry, or b) 1% of the 100% of fund profit?

E.g. Let's say the profit of the fund is $10M. 

a) GP's carry is 20% of $10M ($2M). Is the cost 1% of $2M = $20,000? Or
b) 1% of $10M = $100,000?

It's 1% of 20% or 5% of 100%. So, if your carry is $2m (100%) the Partner carried interest is $100k. 

This way, the incentives are aligned because it generally takes 10 - 15 years for the carry to be realized. So you would need to be ultra ULTRA successful for the carry to materially be worth the value provided by the team. Another way to think about it, if the Partner's carry is $100k, we likely would have provided a multiple of that value by that point.

I think you meant to say 1% of 100% (1% of $10M = $100K) or 5% of 20% (5% of $2M = $100K), right? Just want to be sure! 

Assume the carry is 100%. It's 5% of 100%.