Nanocrystals that include a core/shell structure in which the a core of semiconductor material is coated with an inorganic capping agent. The nanocrystals are made by initially providing nanocrystal precursors that include a solubility agent which renders the precursors soluble in an organic solvent. The nanocrystal precursors are then coated with the inorganic capping agent in the presence of an organic solvent.