Prep your ingredients: Gather everything beforehand to make the cooking process smooth and stress-free.
Cook the aromatics: Heat 1 tablespoon of olive oil in a large saucepan. Add the diced onion, carrot, celery, and pancetta. Cook over medium heat, stirring occasionally, until softened, about 8 minutes. Transfer the mixture to a bowl.
Brown the meats: Add the remaining olive oil to the same pan. Once shimmering, add the ground beef, veal. Cook over medium-high heat, breaking up the meat, until just pink, about 5 minutes.
Combine and flavor: Return the vegetable mixture to the pan. Stir in the chopped garlic and cook for about 1 minute until fragrant.
Create the sauce base: Stir in the tomatoes and their reserved juices, chicken stock, thyme, and bay leaf. Season with a generous pinch of salt and pepper. Bring the mixture to a boil, then reduce to a simmer.
Simmer to perfection: Partially cover the pan and let the sauce cook on low for 1 hour, stirring occasionally. Remove the bay leaf and stir in the heavy cream. Heat through.
Cook the pasta: Boil the penne in a large pot of salted water until al dente. Drain well.
Toss and serve: Add the pasta back to the pot or a serving bowl. Pour in the sauce and toss thoroughly to coat. Serve in deep bowls with freshly grated Parmesan cheese on the side.