Step 1

Heat large skillet over medium heat. Add olive oil and bacon. Cook until bacon is crisp. Using tongs, remove the bacon from the skillet and transfer to the slow cooker.

Step 2

To the warm skillet, add the beef cubes. Sear on each side until just browned, about 1 minute per side. Transfer the browned beef and any remaining cooking fat to the slow cooker.

Step 3

To the now-empty skillet, add the tomato paste and red wine. Whisk and gently release any browned bits from the bottom or sides of the pan. Slowly add in the cornstarch slurry, chicken broth, and soy sauce, whisking until smooth. Transfer the liquid to the slow cooker.

Step 4

To the slow cooker, add the baby potatoes, baby carrots, and thyme. Stir to mix. Cook on low for 6-8 hours, high for 4-5 hours, or until the beef and veggies are tender. Season with salt and pepper to taste.

Step 5

Serve warm with optional garnishes.

Step 6

Press the “Saute” setting on the Instant Pot. Once hot, add olive oil and bacon. Cook until the bacon is crisp. Using tongs, remove the bacon from the Instant Pot and set aside.

Step 7

Add the beef cubes to the Instant Pot and sear on each side until just browned, about 1 minute per side. It may help to do this step in batches, using additional cooking oil, as needed, to prevent burning. Using tongs, remove seared beef cubes and set aside.

Step 8

Add the tomato paste and red wine to the Instant Pot. Whisk until smooth while gently scraping the bottom and sides of the Instant Pot to release any of the browned bits. This helps to release flavor, as well as, prevent a “Burn” message from appearing while cooking with the Instant Pot.

Step 9

Cancel the “Saute” setting. Add in the chicken broth, soy sauce, baby potatoes, baby carrots, bacon bits, seared beef cubes, and thyme. Stir to mix.

Step 10

Place the lid on top of the Instant Pot and secure. Set vent to “Sealing”. Select the “Manual” setting on the Instant Pot. Adjust the time to 30 minutes on “High Pressure” and cook. Allow the pressure to naturally release for 10 minutes before carefully switching the vent to “Venting” and releasing any remaining pressure.

Step 11

Prepare the cornstarch slurry and stir into the stew to slightly thicken. Season with salt and pepper to taste.

Step 12

Serve warm with optional garnishes.