Trim and cut the beef into ¾ inch cubes and season generously with salt and pepper.
Chop the onion, carrots, and celery (¼-½ inch chop/dice)
Dice the garlic
Slice the mushrooms. I like to use just the caps.
Set Instant Pot to Sauté.
Once the instant pot is hot, cook the bacon until the fat is rendered out. Remove bacon from pot but leave the fat
Add 1 tbsp olive oil to the pot
Sear the beef in batches for 3-4 minutes each until a nice crust forms on all sides. Remove from pot and set aside
Add remaining olive oil to instant pot
Add the onions to the instant pot and lightly salt. Stir for 2-3 minutes to incorporate the fond into the onions
Add the carrots and celery and continue to cook for 2-3 more minutes stirring occasionally
Add the garlic and cook for another 30 seconds until fragrant - do not burn the garlic
Add the wine to the pot and deglaze any thing that is still sticking to the pot
Add the beef stock, tomato paste, beef, bacon, thyme, and oregano
Gently whisk in the flour
Seal the instant pot and set it for 45 minutes on high pressure. When the timer goes off, let it release naturally for 10 minutes and then quick release any remaining pressure
Set the instant pot to sauté again and let the sauce thicken for about 10 minutes
While the sauce is thickening, melt the butter in a sauté pan and sauté the mushrooms. Gently add to the instant pot.
Serve over mashed potatoes or egg noodles
Notes
To make this gluten free, omit the flour and stir in a slurry of 1 tbsp cornstarch with 1 tbsp of cold water at the thickening step