KYC circumvention is no problem for individual investors. Just select 'No I am not a citizen of Country X' or use a VPN.
I really can't speak to individual hardcaps though, the same methods used to bypass KYC can be used here. Classic example of a double-edged sword.
The only thing I can think of is some type of lottery system.
This is not entirely accurate. Almost all legitimate upcoming ICO's require some government issued documents or identification.
They also use proprietary 3rd-party software or services to verify your information.
A VPN in such cases are not really helpful.