We demonstrate the fabrication of an InGaAs/InP heterojunction bipolar transistor (HBT) with a reduced base-collector overlap area using selective epitaxy techniques. The process uses planarizing growth by chloride-transport vapor-phase epitaxy (VPE) to create a buried subcollector layer, followed by selective regrowth by organometallic VPE. The quality of the regrowth over the planarized substrates is evident from the dc characteristics of the HBT which show an ideality factor-eta = 1.05 for the base-emitter junction.