This is a huge amount to invest in crypto. But try out the Chimaera TokenSale for investing at least 10,000$ then some invest in other ICO and at last invest $50,000 of funds in the major profitable crypto like BNT, IOTA, ETC, Waves, TFL and many more available in the market. Try your research also.
We don't know yet much about ICOs, yes some of them successfully went till like 5x or even 10x from last year which is great return, but this whole market built around ICOs is still relatively new so it could have it's own risks. He can however try to invest into some alts or ICOs even but I wouldn't advise him to put all of his money there but to diversify by putting majority into btc and eth and rest simply to "bet" on ICOs.
We've seen NEOs raise last year which was outstanding with low investment like 1k$ you would have few hundreds of dollars, so yeah ICOs and alts are not to be thrown away as there is still profit that can be made.