Select SAUTÉ-High and set the time for 30 minutes. Press START.
Add oil and butter to the Inner Pot. When the oil is hot, add the onions, shallot, salt and pepper. Cook, stirring occasionally, until softened.
Add the minced garlic, bell peppers and carrots. Cook for 1 or 2 minutes more.
Press CANCEL button.
Select SLOW COOK-High and set the time to 3 hours. Press START.
Add the tomato paste, salt, black pepper, paprika, fish stock, heavy cream, coconut milk and white wine, mix all together. Slow cook for 2 hours and 30 minutes.
When there are 30 minutes remaining, add fish, clams, mussels and sprinkle the shrimp on top. Close the lid and let them cook for 30 minutes.
When cooking is over, carefully open the lid and add the fresh lemon juice. Season with salt and pepper to taste.
Serve the seafood stew immediately in a large bowl and garnish with cilantro and parsley.