In this paper we report for the first time gas-source molecular beam epitaxy of both n- and p-channel InGaP/(In)GaAs modulation-doped heterostructure. The sheet density dependence of the two-dimensional hole gas (2DHG) mobility of p-type In 0.49Ga 0.51P/GaAs structures was investigated by Van der Paul Hall measurement at 300 and 77 K. The 2DHG densities of 2.78×10 12 and 1.02×10 12 cm −2 with mobilities of 191 and 2831 cm 2/V s at 300 and 77 K, respectively, for In 0.49Ga 0.51P/GaAs structures have been achieved. Low-temperature and high-magnetic field Hall measurements were also carried out. Longitudinal resistance of the structure shows two oscillations with different periods at a temperature of 0.3 K, indicating that two subbands have been occupied by holes in the GaAs channel. The sheet density for each subband was estimated to be 1.22×10 12 and 0.77×10 12 cm −2, respectively. Both high hole mobility transistors (HHMTs) and high electron mobility transistors (HEMTs) were demonstrated. HHMTs show a maximum DC transconductance of 35 mS/mm. The saturation current is 57 mA/mm at 300 K with V d=−3 V. Both extrinsic transconductance and saturation current of our novel In 0.49Ga 0.51P/GaAs HHMTs are well improved, compared with those of AlGaAs/GaAs and InGaAs/GaAs HHMTs. Enhanced-mode InGaP/InGaAs pseudomorphic HEMTs were achieved with a maximum DC transconductance of 250 mS/mm.