Place the dried wild mushrooms in a small bowl and cover them with warm water. Let them soak for 20–30 minutes.

Once softened, strain the mushroom water through a fine mesh strainer or cheesecloth to remove any grit, and set the liquid aside.

Chop the rehydrated mushrooms into small pieces and set them aside as well.

Heat the butter and olive oil in a large pot or Dutch oven over medium heat.

Add the diced celery, thinly sliced leek, and minced garlic. Sauté for 4–5 minutes until softened and fragrant, stirring occasionally.

Add the chopped fresh mushrooms to the pot and cook for 8–10 minutes, stirring occasionally, until they release their moisture and begin to brown.

Stir in the rehydrated mushrooms and cook for another 2–3 minutes.

Deglaze the pot by adding the white wine, scraping up any browned bits from the bottom. Let it simmer for 2–3 minutes to reduce slightly.

Add the bay leaves, fresh thyme sprigs, allspice berries, smoked paprika, salt, and pepper. Stir to combine.

Pour in the reserved mushroom water and 4–6 cups of vegetable stock, depending on how thick you want the soup to be. Stir well.

Bring the soup to a gentle simmer, cover, and let it cook for 20–25 minutes, allowing the flavors to meld together.

Add the roasted and roughly chopped chestnuts to the pot. Stir to incorporate and let the soup simmer for another 10 minutes.

Remove the bay leaves, thyme sprigs, and allspice berries.

Use an immersion blender to blend the soup to your desired consistency. For a completely smooth soup, use a stand blender, working in batches and being cautious with the hot liquid.

Stir in the heavy whipping cream and let the soup heat through for 2–3 minutes. Taste and adjust the seasoning with more salt, pepper, or smoked paprika if needed.

Ladle the soup into bowls and garnish with a drizzle of olive oil, a sprinkle of smoked paprika, or fresh thyme leaves. For extra texture, top with toasted chestnut pieces or croutons.