In a large, deep pot or Dutch oven, heat the olive oil and butter over medium heat. Add the chopped onion and sauté until softened and translucent, about 5-7 minutes, stirring occasionally.

Throw in the minced garlic and cook for an additional minute until fragrant.

Add the sliced mushrooms to the pot, cooking until they release their moisture and become tender and slightly browned—around 8-10 minutes. Season with a pinch of salt and pepper.

Stir in the Arborio rice and cook, stirring constantly for 1-2 minutes until the grains become slightly translucent.

Pour the white wine into the pot and stir, scraping up any bits from the bottom. Cook until the wine is almost completely absorbed, about 2-3 minutes.

Add all the hot broth into the pot. Season generously with salt and pepper, then bring to a gentle simmer.

Lower the heat to low, cover tightly, and let it simmer gently for 18-20 minutes without lifting the lid frequently.

After 18-20 minutes, check the risotto. It should be creamy and most of the liquid absorbed. Adjust with more broth if necessary.

Remove from heat and stir in the grated Parmesan and heavy cream. Mix until the cheese melts and creates a creamy texture.

Taste and adjust seasoning. Stir in chopped parsley before serving.

Serve immediately, garnished with extra Parmesan and parsley.