In this paper, we review recent work on the development of a novel low-complexity equalizer that can enable single-lane <100 Gb/s short-reach optical links based on carrierless amplitude and phase modulation. This equalizer, named the CAP equalizer, can mitigate the transmission impairments in the link due to a non-ideal channel frequency response, providing significant performance advantage over conventional FFE and DFE equalizers and enabling higher data rates and longer reach. Its use is demonstrated in a VCSEL-based MMF link achieving data transmission of 112 and 124 Gb/s over 100 m OM4 MMF.