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Process technology of high-speed implant-apertured index-guide lateral-current-injection top dielectric-mirror quantum-well 850-nm vertical cavity surface-emitting lasers (VCSELs) has been developed. Oxygen and helium implantation for aperture definition and extrinsic capacitance reduction, dielectric mirror formation, p- and n-ohmic contact formation, VCSEL resistance, and thermal analysis were investigated. Employing this technology, GaAs/AlGaAs-based 850-nm VCSELs with small signal modulation bandwidths up to 11.5 Gb/s and an eye diagram generated at 12 Gb/s by a pseudorandom bit sequence of 231-1 were achieved. The bit-error rates were below 10-13. The threshold current is as low as 0.8 mA for 7-μm-diameter current apertures and typical slope efficiencies of 0.45-0.5 mA/mW were obtained.