We propose the use of single-carrier frequency-domain equalization (SC-FDE) for the compensation of modal dispersion in short distance optical links using multimode fibers and 850 nm VCSELs. By post-processing of experimental data, we demonstrate, at 7.9% overhead, the error-free transmission (over a 4 Mbit sequence) of OOK-modulated 5 Gbps over 2443 meters of OM3 fiber (with a nominal 3300 MHz×km bandwidth). The proposed solution may be applied as a low cost alternative for data center and supercomputer interconnects.