Gather all the ingredients before starting the recipe.
Add olive oil to a medium sauce pan over medium heat. Once the oil is hot, add chopped onions and carrots and stir to combine. Cover with a lid and cook for 4-5 minutes, stirring occasionally, until the vegetables are soft and the onion becomes translucent.
Add the garlic, tomato paste and cayenne pepper. Stir to combine and cook for about 1-2 minutes or until the garlic becomes fragrant.
Add the thyme, roasted red pepper, tomatoes and chicken broth and stir to combine. Bring to a boil, then reduce to a simmer and cook for about 30 minutes.
Transfer mixture to a blender and blend until the mixture is smooth, or use an immersion blender and blend until smooth.
