Now is very popular PRE-ICO. So you can see results before ICO.
So I prefer invest in successfull ICO by learning PRE-ICO or first days of ICO.
This is the main trend as of now on which there are already ICO who have this Pre-ICO on which it somehow boost up the interest on some investors when they do see that it goes well. Answering on ops question theres no list about those projects that do make a refund of money back when they didn't reach target but I'm sure there are projects who did such thing.
Yes, I also can't find a list with ICOs that make a refund.
Here is an announcement of an ICO of this kind. It is written in the white paper but it is not stressed about the refund in the website. And that is why I thought that almost every ICO offers a refund.
https://bitcointalk.org/index.php?topic=2114118.0