Step 1

Set instant pot to SAUTE. Drizzle with oil and sear bacon 3-4 minutes until cooked through. Use a slotted spoon to transfer to a paper towel lined plate and set aside.

Step 2

Add beef to pot and sear 3-4 minutes, using tongs to rotate periodically to brown all sides.

Step 3

Add red wine to the pot, scrape any brown bits off the bottom and sides of the pot and into the liquid. Simmer and reduce for about 5 minutes. Gradually add beef broth, tomato sauce, and boullion. Gradually whisk in flour.

Step 4

Stir in bacon, carrots, onions, garlic, thyme, potatoes, mushrooms, salt and pepper. Cover and set to PRESSURE COOK or MANUAL. Set to 45 minutes.

Step 5

Do a natural release for 10 minutes (do nothing, just allow to depressurize during this time) then switch valve to VENT and do a quick release. Once float valve drops, remove lid. Set to SAUTE again and allow to thicken for 5-10 minutes.

Step 6

Give it a good stir and taste before adding salt and pepper if needed and garnishing with chopped parsley.