Place the chilli, garlic and ginger in a food processor. Process until minced. Add the capsicum and process until almost smooth. Transfer to a large saucepan over medium heat. Stir in tomato. Simmer for 10 minutes.
Add the red wine vinegar, fish sauce and balsamic vinegar. Bring to a boil, stirring often. Reduce the heat to medium-low. Simmer, stirring every 5