Heat the olive oil in a pan over medium heat.

Add the sliced onion and garlic to the pan.

Cook for 6-8 minutes, or until the onion and garlic are golden brown.

Reduce the heat to low.

Stir in the cooked and sliced beets, red wine vinegar, and tomato paste.

Cook gently for 15-20 minutes, or until the mixture is sticky and caramelized.

Pour in the vegetable broth and heavy cream.

Stir to combine.

Transfer the mixture to a food processor.

Process until smooth.

Serve immediately or reheat before serving.