Icos look for bounty hunters to promote their project through the power of social media.Sometimes, some of these hunters also double as ico investors. But it looks like bounty hunters understand ICOs project and are able to determine very good projects before they invest because of their experiences in different projects.
I dont think so although there are times that bounty hunters got interested to invest in an ICO which they think are the good one and there is a big possibility to be a successful ICO. Personally, i have beeen participated too many bounties already and sad to say, i am still not the expert one to determine which is which are good and can be a successful project when its done. So i never got the chance to invest in any ICOs that i have been participated in to.