Whisk together all of the marinade ingredients in a small bowl. Place the meat in a large resealable bag or container with a lid then pour the marinade over top. Seal the bag or lid, then refrigerate for at least 2 hours, up to overnight.
Set the Instant Pot to Saute mode and allow it to preheat. If you're not making the gravy skip to the next step, otherwise add 1 tablespoon of olive oil and 1 tablespoon of butter to the pot. Add the mushrooms and onions and cook for 6-7 minutes until all of the excess moisture from the mushrooms has cooked off and the vegetables are lightly browned. Then remove the veggies and set aside.
Add 1 tablespoon of olive oil and then add the meat. Sear on each side for around 2 minutes until well browned.
Add 1 cup of beef broth and use a wooden spoon to scrape up any brown bits from the bottom of the pan to avoid a burn warning. Then cover and lock the lid. Set to manual high pressure for 3 minutes.
Allow the pressure to release naturally for 10 minutes. Then vent the remaining pressure before removing the lid. Transfer the meat to a cutting board and let rest for 5 minutes before slicing thinly against the grain.
While the meat rests finish the gravy. Leave the liquid in the pot and set to saute mode. Whisk together 1 tablespoon of cornstarch and 2 tablespoons of water. Then whisk the cornstarch mixture into the pot.
Bring to a simmer and add the mushrooms and onions back to the pot. Season with ½ teaspoon dried thyme and salt and pepper to taste. Cook until thickened, around 2 minutes. Top the sliced meat with gravy and serve.
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Notes
This recipe was developed in a 6-quart Instant Pot Duo Evo Plus. You may need to adjust if using a different model.