Turn Instant Pot to saute and add the oil and onion. Saute for 2-3 minutes or until onions are caramelized in color. Add the minced garlic cloves, celery, red bell pepper, cumin, and chili powder. Continuously stir for 1 minute.
Pour in the vegetable broth and water. Mix in the dry beans and a pinch of salt. Press "cancel" button to stop the saute feature. Close the lid and make sure the valve is on "sealing". Choose the "manual" button and set cook time for 35 minutes.
Once the timer has gone off and cook time has finished, allow the Instant Pot to naturally release pressure for an extra 30 minutes or until the pressure valve has completely dropped. Remove the lid and stir.
Use a slotted spoon to remove a cup of black beans and set aside. Add tomato paste and lime juice to the pot and blend using an immersion blender or let cool and transfer to a stand-alone blender. Add in the reserved black beans and season to taste with salt and pepper.
Serve with toppings of your choice!