In this paper, we attempt to design, simulate and characterize an InGaAs-based vertical-cavity surface-emitting laser (VCSEL) employing InGaAsP multi-quantum wells sandwiched between GaAs/AlGaAs and GaAs/AlAs distributed Bragg reflectors using an industrial-based numerical simulator. We were able to obtain a working model at an optical wavelength of 1.55 mum. This paper provides key results of the device characteristics including the DC V-I and the light power versus electrical current. Effect of DBR mirror stack quantities were also experimented with and the results are reported here.