Ico investments can be a bit risky compared to the altcoin investment. If you are looking for not valued coins. You can choose from icos recently finished and on exchange. Their price can be lower than ico price. They have much more potential.
Good advise. But for some case's, some ico's price has been increasing when it has been available on exchange.
Investing on ico's surely risk, but you can doing research it first, about dev team and who supporting behind.