Heat Instant Pot on saute mode and saute onions until soft, about 4 minutes.
Add bell pepper, mushrooms, garlic and carrots and continue to saute for an additional 4–5 minutes. Add a pinch of salt and pepper to taste.
Add remaining ingredients and give it a stir. Set pressure cooker for high pressure 8 minutes. (The Instant Pot may take 15–20 minutes to come to pressure before it starts counting down.)
Once done, manual release and give it a minute to cool. It can stay in warm mode for up to 2 or 3 hours if needed. Enjoy!
Note: This recipe calls for 1 chipotle chili plus 1 tablespoon of the adobo sauce. I actually double this because I love the heat! Feel free to adjust this for your spice tolerance level.