We demonstrate a novel long‐wavelength vertical‐cavity laser structure employing two AlAs/GaAs mirrors and a strain‐compensated InGaAsP quantum‐well active region. The lasers have been fabricated by waferfusion and have the lowest room‐temperature pulsed threshold current density of 3 kA/ cm2 at 1.52 μm. Eight laser sizes ranging from 9 to 60 μm were fabricated with threshold currents as low as 12 mA. Single transverse mode operation was observed on the 9 μm device, while other devices lased multimode. The maximum pulsed output power was 7 mW.