In a large sauce pan, on med-high heat add the butter and oil.
Add the beef cubes. Cook, turning, until they are browned on all sides. Remove to a plate. (You may have to do this in batches.)
To the browned butter and oil, add the onions. Cook until softened. (About 5 mins.)
Add in the carrots, peppers, and garlic. Cook and brown the vegetables, for 5 mins more.
Return the meat to the pot and add in the potatoes.
Remove from heat and stir in the paprika.
Crush the caraway seeds and add them to the pot. (I used a mortar and pestle) Stir.
Add in the crushed tomatoes and beef broth. Stir to combine everything.
Cover and bring to a boil.
Reduce heat to low and simmer for 1 ½ -2 hours.
Stir occasionally.
Cool slightly, adjust seasoning.
Serve with your favourite side!