Cook pasta in a large pot filled with salted water according to package directions. When cooked, reserve 1 cup of pasta water, drain, then set aside.
Heat a pan over medium heat. Add olive oil and white onion, and sauté until translucent.
Add mushrooms and salt and pepper to the pan. Sauté for 5 minutes, until mushrooms are cooked.
Add garlic and tomato paste to the pan. Stir well and sauté for 2 minutes.
Add broth and red wine to the pan. Let reduce for 5 minutes on medium-low heat, stirring occasionally. Add butter to the pan and stir until melted.
Add pasta and sauce to a large serving bowl. Add 2 tbsp pasta water, then more if necessary.
Top with fresh basil and grated Parmesan and serve.