We demonstrate tuning of the electronic level positions with respect to the vacuum level in colloidal InAs nanocrystals using surface ligand exchange. Electrochemical as well as scanning tunneling spectroscopy measurements reveal that the tuning is largely dependent on the nanocrystal size and the surface linking group, while the polarity of the ligand molecules has a lesser effect. The implications of affecting the electronic system of nanocrystal through its capping are illustrated through prototype devices.