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This paper describes for the first time, a high-speed and low-power III-V p-channel QWFET using a compressively strained InSb QW structure. The InSb p-channel QW device structure, grown using solid source MBE, demonstrates a high hole mobility of 1,230 cm2/V-s. The shortest 40 nm gate length (LG) transistors achieve peak transconductance (Gm) of 510 muS/mum and cut-off frequency (fT) of 140 GHz at supply voltage of 0.5V. These represent the highest Gm and fT ever reported for III-V p-channel FETs. In addition, effective hole velocity of this device has been measured and compared to that of the standard strained Si p-channel MOSFET.