Stephan Feilhauer is a Managing Director at Macquarie Capital, the corporate advisory, capital markets and principal investment arm of Macquarie Group. Stephan leads Macquarie Capital’s growth equity investment in the Infratech sector. We speak about principle investing and the differences between investing on a firm’s balance sheet compared to other forms of VC funds. We get into investing in infrastructure and energy technology startups, the process, the decision criteria, the instruments.