Over medium heat sauté capsicum, onion, mushroom and garlic in olive oil in the Pressure Cooker (lid off) until soft (2-3 minutes). Remove from pan and set aside.
Brown meat over high heat in two batches (around 2 minutes each batch)
Return beef and vegetables to the Pressure Cooker and add paste, carrots and thyme and stir.
Pour in Guinness and stir through. Bring to the boil for 1 minute to cook off the alcohol.
Close and lock Pressure Cooker and bring to pressure on high heat using setting 2 (Pressure is reached when the red Pressure Indicator has risen).
Once at pressure, turn down the heat and cook for 30 minutes.
Slow release pressure by removing from heat and allowing to cool down naturally. This will take approximately 10 minutes. Pressure has been released when the red pressure indicator has dropped
Serve stew with mashed potatoes or crusty bread
