Combine beef, chorizo, garlic, vinegar, and soy sauce in a skillet over medium heat; cook and stir until beef is browned and liquid is reduced, about 20 minutes. Remove from heat.

Meanwhile, heat olive oil in a pot over medium heat; cook and stir onion and bell pepper in hot oil until onion is translucent, 5 to 10 minutes. Add tomato sauce and simmer until liquid is slightly reduced, 3 to 5 minutes.

Stir beef-chorizo mixture into tomato sauce mixture; bring to a boil. Reduce the heat to medium-low, cover the pot, and simmer for 30 to 40 minutes.

Stir potatoes, peas, salt, and pepper into stew; simmer until beef is tender and potatoes are cooked through, 20 to 30 minutes. Add water if needed.