A driver for a vertical-cavity surface emitting laser (VCSEL) is provided that includes a bias current source, a modulation source, and a peaking control circuit. The bias current source is operable to generate a bias current for the VCSEL and an output voltage. The modulation current source is coupled to the bias current source by at least one switch and is operable to generate a modulation current for the VCSEL when the switch is closed. The peaking control circuit is coupled to the bias current source. The peaking control circuit is operable to receive the output voltage from the bias current source and to generate a driver output voltage for the VCSEL based on the output voltage. The driver output voltage has less peaking than the output voltage.