It is a small amount of money. I would split it into 10 projects and invested in them. There is a chance that some of them would take off. It's risky, but the amount of money not so much to worry about.
Splitting into at least 10 projects sounds great and for me I would rather go for an established project that is undervalued than a coin that is already pumped in the market. Take a look at the team, the project itself, and the charts to see if you are buying at the dip after checking through some history. It is still a good time now as some good coins have not pumped yet.
We must just do some research, look for a very good ICO and then invest in it. If we are lucky enough to hit a very good one, we will definitely be making a lot from it in the long run and if we do some shortcut stuffs and get to hit a shitty one, then consider our little fund gone. Jokes apart though, once we have a good team and a good project, we can be sure that we can grow fast with our capital.