AION Investments II Singapore has invested Rs. 600 crore in Varun Beverages (VBL), which manufactures and markets beverages under Pepsi, 7UP, Mirinda and Mountain Dew brands of PepsiCo, through a mix of primary infusion and secondary purchase from existing investors. VBL is promoted by the RJ Corp group which comprises diversified business interests ranging from beverages, fast food restaurants, ice creams and dairy products, education, health care and hospitality.