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Step 1
In a large dutch oven or soup pot, heat 1 tablespoon of olive oil over medium-high heat. Once hot, add half the venison and sear about 5 minutes, until nicely browned, flipping the venison over halfway through. Remove to a plate. Add another tablespoon of olive oil and remaining venison the the pot and repeat; remove to the plate.
Step 2
To the same pot, add the onion and remaining tablespoon of olive oil. Cook about 5 minutes, or until soft. Stir in the garlic and tomato paste, and cook for 1 minute. Add back in the venison with its juices, sprinkle with flour and mix together.
Step 3
Pour in the red wine, balsamic vinegar and Worcestershire, scraping the brown bits from the bottom of the pot - this is where the flavor is at! Then add in the broth, water, thyme, salt, pepper, sugar and bay leaves.
Step 4
Preheat the oven to 350 degrees F. Cover the pot with a lid and transfer to the oven for 1 hour and 30 minutes. If your pot isn't oven safe, transfer the stew to an oven-safe dish and cover. Alternatively, cook the stew for the same amount of time on the stove over low.
Step 5
Add the potatoes and carrots, cover and place back in the oven. Continue to cook about another 1 hour and 30 minutes, or until the vegetables and venison are tender. Mix in the peas and remove the bay leaves.
Step 6
Serve warm with crusty bread!