Vertical-external-cavity surface-emitting lasers (VECSELs) yield an excellent beam quality in conjunction with a scalable output power. This paper presents a detailed numerical analysis of electrically pumped VECSEL (EP-VECSEL) structures. Electrical pumping is a key element for compact laser devices. We consider the optical loss, current confinement, and device resistance. The main focus of our investigation is on the achievement of an adequate radial carrier distribution for fundamental transverse mode operation. It will be shown that a trade off between the conflicting optical and electrical optimization has to be found and we derive an optimized design resulting in guidelines for the design of EP-VECSELs which are compatible with passive mode locking. Vertical-external-cavity surface-emitting lasers (VECSELs) [1] are of high scientific and industrial interest due to their large fundamental transverse mode output power, scaling with the device radius, the near diffraction limited output beam, and the suitability for intracavity frequency conversion [2] and passive mode locking [3,4]. Passive mode locking of an optically pumped VECSEL has been demonstrated with a semiconductor saturable absorber mirror (SESAM) [5] in a folded external cavity. After the first passively mode locked VECSEL was demonstrated in the year 2000 [6], the milestone of nearly 1 W average output power was achieved in 2002 with improved thermal management [7]. The pulses in the early experiments were often strongly chirped, but mode-locking dynamics in VECSELs revealed that a soliton-like pulse-shaping mechanism in the positive-dispersion regime can help to generate short pulses with low chirp. With the aid of intracavity dispersion control, it then became possible to obtain nearly transform limited picosecond pulses with record high output powers of 2.1 W at 4 GHz [4] and 1.4 W at 10 GHz [8]. The pulse width could be u Fax: +41-44-633-10-59, E-mail: keller@phys.ethz.ch significantly shortened to the sub-500-fs regime using faster SESAMs based on the ac Stark effect [9]. The vertical integration of the absorber into one monolithic structure with the gain quantum wells (QWs) is an important step towards higher pulse repetition rates with decreased cavity size and wafer-scale integration. This has been achieved for the first time and is referred to as the mode-locked integrated-externalcavity surface-emitting laser (MIXSEL) [10]. So far, all these devices have been optically pumped, which involves a more complex optical setup. Thus, an important step towards waferscale fabrication of compact ultrafast VECSELs is the design of electrically pumped VECSEL (EP-VECSEL) structures. This is challenging because of optical losses and Joule heating in the doped layers. Nevertheless, continuous-wave (cw) EP-VECSELs have been demonstrated [11,12] and output powers of up to 900 mW have been obtained with a 150-µm device diameter in multimode operation [13]. Also, mode locking with down to 15-ps FWHM pulse width [14] and a wafer-scale EP-VECSEL w...