Cook ground beef and pepperoni in a Dutch oven coated with cooking spray over medium-high heat 8 minutes or until beef crumbles and is no longer pink. Rinse and drain beef mixture.
Sauté mushrooms and next 3 ingredients in hot oil in Dutch oven 5 minutes. Stir in beef mixture, tomato paste, and next 5 ingredients. Bring to a boil; reduce heat, and simmer 30 minutes. If desired, garnish and serve with Parmesan Toast Points.