Midstream: A term used to describe the transitional phase in an investment or finance process. This stage typically follows the upstream initiation of a project and precedes the downstream finalization of that same project. Midstream is a time for evaluation, assessment, and forethought. It is during this stage that one can evaluate their choices, assess potential risks, and forecast the potential outcome of their decision. Midstream must be navigated deftly because it will set the stage for the downstream success or failure of an investment or finance project.