A high speed segmented Mach-Zehnder modulators (MZM) driver circuit was designed in a 0.13 μm SiGe BiCMOS process. The bandwidth of the driver input stage was expanded by the capacitive negative feedback, and the common-mode output voltage was stabilized by the common-mode feedback, contributing to a variable gain function. The bandwidth of the output stage was extended by the negative Miller capacitance, T-coil and inductive peaking technology. The propagation delay between close output stages was produced by microstrip transmission lines, so a design method of the microstrip transmission lines was presented. The simulation results show that, the maximum operating rate of the proposed driver circuit is 50 Gbit/s, the voltage output swing is 3 V and the propagation delay between close output stages is 4.9 ps. The driver circuit is well suited for segmented MZM.